Sweden’s AP4 appoints new chair
AP4, one of five so-called buffer funds in the Swedish pension system, has announced the appointment of Sarah McPhee its chairwoman.
The appointment was confirmed some two months after AP4 said its its then CEO Mats Andersson was stepping down after a decade in his role.
McPhee, who was appointed by the Swedish government (AP4 is legally defined as a government agency and board members are appointed by government although operationally independent), has previously worked in a number of senior level roles across the local financial services industry. Most recently she was CEO of SPP, and before that was deputy CEO and head of Investments at AMF. She has also worked as head of Business Risk and Control at AP4.
AP4 has some SEK310bn (€33.7bn) in assets as of the end of December 2015. As one of the buffer funds in the pension system, it is mandated to invest to maximise shareholder value over time, with a sustainability focus on climate change and corporate governance.