Kristin Magnusson Bernard new CEO of Första AP-fonden

The Board of Directors of Första AP-fonden (AP1) has appointed Kristin Magnusson Bernard as new CEO of AP1. Ms Magnusson Bernard will assume her new role on September 1, 2020, at the latest, and replaces Teresa Isele who has been Acting CEO since September, 2019.

Kristin Magnusson Bernard has been active in the financial industry since 2009 and was most recently Country Senior Executive in Nordea Markets Sweden and Head of Macroeconomic Research in Nordea. Kristin joined Nordea in 2016 and has had several leading positions within the Markets and Investment Banking divisions of the bank. Prior to that, Kristin held senior positions at the European Central Bank (ECB) in Frankfurt as well as at the International Monetary Fund (IMF) in Washington D.C. Kristin has a PhD in Macroeconomics from the Stockholm School of Economics.

– In Kristin Magnusson Bernard, AP1 gets a CEO who combines long-standing experience from leading specialist and high-performing teams with excellent communication skills. Kristin possesses broad and deep experience from the financial industry, both in Sweden and an international context, where she developed strategic and analytical asset management capabilities. Further, her strong commitment and engagement in sustainability matters will be valuable for the fund’s continued work in this field. The Board of Directors are looking forward to working together with Kristin in continuing to deliver on the fund’s important assignment – to manage the capital in the best possible way for the pensioners of today and tomorrow. I would also like to thank Teresa Isele for her contributions as Acting CEO of AP1. She has taken on the assignment with a strong commitment, and several important initiatives have been implemented under her administration with impressive results, says Urban Hansson Brusewitz, Chairman of the Board at AP1.

– I am honoured to join AP1, and look forward to leading a very competent and experienced team. My mission as CEO of the fund is to continue the assignment to manage the pension capital and achieve good returns, and at the same time support a sustainable development. The Swedish national pension fund system has a very significant task and I am very proud of being part of the continued development of AP1 as a stable, responsible and active investor, says Kristin Magnusson Bernard, incoming CEO of AP1.

Until Kristin Magnusson Bernard assumes her role, Teresa Isele will continue as Acting CEO.


Sara Christensen, Head of Communication, Första AP-fonden tel. +46 70 968 12 50,

Första AP-fonden

Första AP-fonden (AP1) is one of five pension funds in the Swedish national income pension system (the AP Funds). AP1 has assets under management of SEK 352 billion (30 June 2019) in a portfolio consisting of listed equities, fixed income securities, currency, real estate, hedge funds, private equity funds, infrastructure and high yield. Investments are made worldwide. AP1 is a long-term investor and an active, engaged owner. As an owner the Fund imposes stringent demands in the areas of Environment, Social and Governance.