Stockholm (HedgeNordic) – Richard Gröttheim, the CEO of AP7 for the past 12 years, will step down from his role in 2023 after 22 years at the Seventh Swedish National Pension Fund. AP7’s board is now starting the process of recruiting a new CEO and Gröttheim remains in the role until the process is complete.
Gröttheim has been at AP7 since the pension fund began operations in 2000. After more than ten years as Executive Vice President, he was appointed as CEO in October 2010. AP7 Såfa, a fund portfolio managed by the state pension fund AP7, is the default alternative in the Swedish premium pension system. At the end of 2021, AP7 managed SEK 970 billion for more than five million premium pension savers.
“The time is right to bring my operational career to a close and to hand over the baton to my successor.”
“It has been a fantastic journey for which I am very grateful,” comments Richard Gröttheim, the outgoing CEO of AP7. “The premium pension default alternative is a cornerstone of the Swedish pension system and I had the opportunity to develop it together with fantastic colleagues,” he continues. “The time is right to bring my operational career to a close and to hand over the baton to my successor.”
“The board would have liked to see Richard Gröttheim stay for a couple more years, but fully understands that he wants to devote himself to other activities after a long and dedicated service.”
“The board would have liked to see Richard Gröttheim stay for a couple more years, but fully understands that he wants to devote himself to other activities after a long and dedicated service,” says Per Frennberg, chairman of the board of AP7. “The financial result has been outstanding, the organization is highly competent and the sustainability work has been exemplary.” Since the fund’s start in 2000, savers have received an average return of 11.6 percent per year.
