ATP Real Estate鈥檚 newly appointed CFO, Martin Vang Hansen, is taking over as CEO from Michael Nielsen.
The property investment arm of Denmark鈥檚 biggest pension fund said Nielsen has decided to step down after nearly 17 years.
ATP said the decision was made to make way for a fresh pair of hands to take charge of the 鈥渢ransformation initiated鈥� by ATP鈥檚 CIO, Kasper Ahrndt Lorenzen, to further strengthen investment and management processes across ATP鈥檚 investment activities.
Vang Hansen joined ATP in the newly-created CFO role in May this year as part of the firm鈥檚 plan to expand its management team to help deal with an increasing workload brought on by its growing portfolio and deals structure.
He was previously chief executive of the F忙rch Foundation (F忙rchfonden), a foundation set up by members of Denmark鈥檚 wealthy F忙rch family.
Vang Hansen said: 鈥淢ichael Nielsen has done a fantastic job at ATP Real Estate. He has developed our real-estate portfolio so that it now stands at around DKK50bn (鈧�6.70bn) and created solid returns for the benefit of Danish pensioners.
鈥淗e has done so in line with ATP鈥檚 values and with a great understanding of the role ATP plays in society.鈥�
Nielsen has agreed to continue to share his knowledge and experience with ATP. His exact role is yet to be defined.
Nielsen said: 鈥淎fter nearly 17 years, the time has come to hand over the reins of ATP Real Estate. I鈥檝e had a wonderful time at ATP. It makes me proud to think of all the things we have achieved together but it鈥檚 of course also with sadness that I now step down and say goodbye to my fantastic colleagues at ATP Real Estate 鈥� and in Hiller酶d.鈥�
