Natural born leaders
WINNER
● Else Bos is Executive Board Member and Chair of Prudential Supervision at De Nederlandsche Bank (DNB), the central bank of the Netherlands. She is responsible for insurance firms and pension fund supervision.
● Bos’s career is varied. In early 2020, she was appointed to the board of supervisors of the European Insurance and Occupational Pensions Authority (EIOPA) and to its management board in 2022. EIOPA is a European Union financial regulatory institution, whose mission is to protect the public interest by contributing to the short, medium and long-term stability and effectiveness of the financial system of the EU economy. It achieves this by promoting a sound regulatory framework and consistent supervisory practices to protect the rights of policyholders and pension scheme members and contribute to public confidence in the EU’s insurance and occupational pensions sectors.
● Within the pensions sector itself, Bos is probably best remembered for her tenure between 2013 and 2017 as CEO of PGGM, the investment management arm of the Netherlands’ second largest pension fund, PFZW. She had a long and varied career at PGGM, where she helped shape it into a global and sophisticated pensions investment institution that now boasts assets totalling €216.5bn. Before she became CEO she held roles as Chief Institutional Business (2010-2013), Chief Executive Officer Investments (2005-2009) and COO Investments (2002-2005). Prior to joining PGGM, she worked for NIB Capital Asset Management and ABN AMRO.
● Since 2022 Bos has been a member of the FSB Plenary (Financial Stability Board) and in March 2023 she joined the Executive Committee of the International Association of Insurance Supervisors (IAIS). She studied econometrics at Erasmus University Rotterdam.
CAREER HIGHLIGHTS
➤ Executive Board Member and Chair of Prudential Supervision at De Nederlandsche Bank |
➤ Member of management board of EIOPA |
➤ Former CEO of PGGM |
➤ Member of the Executive Committee of the International Association of Insurance Supervisors (IAIS) |
WINNER
Richard Gröttheim has led a varied and notable career but is perhaps best remembered as the CEO of Sweden’s national buffer fund, AP7, a role he assumed in late 2010 until he left it in May 2023. He began his career at AP7 as Deputy CEO when it began operations in 2000. At that time, it managed SEK15bn (€1.31bn). Under his leadership in both roles, it grew to SEK900bn by the end of 2022. It is well respected for its drive to integrate ESG into its investments and use its influence on the 3,000 or so companies that it invests in on a range of corporate governance and sustainability issues, not least climate change, biodiversity and working conditions.
● Gröttheim also oversaw the development of AP7 Såfa which replaced Premiesparfonden in 2010 as the default fund for Sweden’s working population of five million. The investment strategy reduces the large equity exposure as individuals near retirement. Returns since its creation in 2000 average 11.6% per year. While listed global equities are the leading asset class, AP7 also invests in alternatives such as private equity and real estate.
● Prior to help establish AP7 as part of the Swedish national pension system, Gröttheim was Head of the Monetary and Foreign Exchange Policy department at the central bank of Sweden between 1993 and 1999. He also held the position of Chief Economist at the Swedish brokerage firm Aragon Securities.
● He holds a Degree of Bachelor of Science in Business Administration and Economics from Stockholm University.
CAREER HIGHLIGHTS
➤ CEO of Swedish national buffer fund AP7 from 2010 to 2023 |
➤ Oversaw growth from SEK15bn at inception to SEK900bn at the end of 2022 |
➤ Led transition of national default fund from Premiesparfonden to AP7 Såfa |
➤ Former head of Sweden’s central bank’s monetary and foreign exchange policy department |
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