AP3 has appointed Par Nuder as the new Chairman of its board of directors, Pensions & Investments reports. He will succeed Claes de Neergaard, who is resigning after eight years on the board.

Previously, Nuder was the minister of finance in Sweden from 2004 to 2006. Additionally, the $34.8 billion investment manager’s board has also hired Bjorn Borjesson as deputy chairman, replacing Lars Josefsson.

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