As the fallout from Sweden’s general election on Sunday continues, the country’s minister for Financial Markets Peter Norman has announced that he is to leave politics.
Norman is well known in Sweden’s funds industry, having been chief executive of the AP7 fund, as well has holding senior roles at Carnegie and Max Mathiesen.
In government he also gave his name to a new way of presenting the effects of annual charges on investor returns, the so-called ‘Normanbeloppet’, which has been used predominantly in the retail funds market.
Norman’s announcement comes a day after Anders Borg announced that he would be leaving his role as minister for Finance.
Norman told Swedish business daily Dagens Industri that he would most likely seek out a new job in the financial sector.