Swedish pension provider Alecta has appointed Magnus Tell as head of asset management, following a period serving as interim head after Pablo Bernengo was appointed CEO.

Tell has been interim head of asset management since Bernengo’s departure from the role on 1 September, and his permanent appointment will take effect from 1 November.

He has served as head of equities at Alecta since 2023 and prior to that he held the same position at the Third Swedish National Pension Fund (AP3).

He has also held the role of head of equity strategy at ABG Sundal Collier in Stockholm, and manager and strategist at Deutsche Bank and Arrowgrass Capital Partners in London and New York.

Commenting on the appointment, Bernengo said: “It is gratifying and good for Alecta that we have been able to recruit a head of asset management from within the organisation.

“Magnus has extensive experience of managing all asset classes and of asset allocation across them. He also knows Alecta well and has been instrumental in developing and strengthening our equity management in recent years.”

Adding to this, Tell commented that he is “incredibly pleased” to be taking on the role and called Alecta a “major player with an important mission”.

“It will be both exciting and enjoyable to work with my colleagues to further develop Alecta’s asset management so that we can provide our customers with the best possible occupational pension,” he concluded.

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