Mats Andersson has been appointed managing director of Catella Group subsidiary Catella Fondförvaltning (Catella Fonder).

Andersson takes over his position on 19 March, after moving over from his previous role as managing director of Ålandsbanken in Sweden.

He replaces Stefhan Klang, who announced in November 2011 that he was stepping down to focus on sales and business development within the company. Johan Nordenfalk, chief legal officer, has served as acting managing director during the transition period.

Johan Ericsson, managing director of Catella AB, said: "We are delighted to have recruited Mats Andersson to the position of managing director of Catella Fonder. Mats' long experience of heading capital management organisations will serve him well at Catella. We are about to embark on extensive development and renewal work aimed at strengthening Catella's position as an asset manager, and Catella Fonder will play an important role in this."

The Catella Group's capital management units have assets under management totalling approximately SEK34bn (€3.9bn), of which approximately SEK17bn (€1.9bn) in the Swedish operations.