AP Fonden 3

A fourth investment executive has departed from the Third Swedish National Pension Fund (AP Fonden 3). Lennart Nordkvist, formerly head of fixed income and foreign exchange management at the firm, has joined Morgan Stanley. His role at the investment bank is as yet unclear. Nordkvist's departure is the latest in a line of resignations that AP Fonden 3 has experienced lately. Earlier this year, Tomas Nicolin and Niklas Ekvall, respectively chief executive and deputy chief executive, left the firm. Nicolin is set to join Swedish mutual fund and pension provider Alecta, and Ekvall has gone to Carnegie. More recently, Mats Andersson, senior fund manager, left to join Skandia Liv. AP Fonden 3 has appointed Kerstin Hessius to replace Nicolin. Hessius is currently executive vice president of the Helsinki Stock Exchange integrated markets division and president of the Stockholmbörsen, and will join in August

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