Mads Kaagaard will be the new managing director of Danica Pension

23 February 2023

Mads Kaagaard takes office on 1 November 2023. He replaces Søren Lockwood, who has been managing director since February 2022. Søren Lockwood will continue in Danica Pension until Mads Kaagaard takes office, in order to ensure a good and efficient handover, and Søren Lockwood will then leave on pension.

Mads Kaagaard comes from PFA, where since 2016 he has been Group CEO in several different roles, most recently with responsibility for Products & Development.

I am very happy that we have the opportunity to employ such an experienced and qualified candidate. Mads Kaagaard has an impressive CV with experience from both the pension and banking sectors, and he has shown that he can run a pension company. Therefore, I am sure that Mads Kaagaard is the right person at the helm to ensure that Danica Pension continues to develop and to deliver good results in terms of returns, health, responsible investments and proactive advice“, says Berit Behring, chairman of the board in Danica Pension and adds:

We see Mads Kaagaard’s experience from the banking sector as a great strength in terms of being able to combine the synergy in the collaboration between Danske Bank and Danica Pension to further benefit our customers. At the same time, he will be a great asset to our continued work to strengthen our culture and management. ” Mads Kaagaard is looking forward to taking up the position as managing director of Danica Pension and to becoming part of a strong team:

Danica Pension is known for its strong solutions within health and prevention and its focused work within sustainability and financial advice. I am looking forward to becoming part of a skilled organization that has delivered good results and to developing the company in cooperation with the entire team. At the same time, there are some strong synergies in the interaction between Danske Bank and Danica Pension, which I look forward to further bringing into play for the benefit of the customers.”

Thanks to Søren Lockwood for strong efforts in a year of crisis

Søren Lockwood retires after a handover period in Danica Pension when Mads Kaagaard takes over as the new managing director of Danica Pension.

In February 2022, Søren Lockwood was appointed CEO following Ole Krogh Petersen’s departure. And in June 2022, that position was made permanent.

Danica Pension and I owe Søren Lockwood a very big thank you for his incredibly great efforts in Danica Pension over the years, both as commercial director and as CEO. He has achieved strong results“, states chairman of the board of Danica Pension Berit Behring, highlighting in particular his great work in integrating SEB into Danica Pension, significant improvements in the underlying healthcare business and for having strengthened the management and culture of Danica Pension.

She emphasizes that Søren Lockwood has managed the company well through a time of global crisis:

Søren Lockwood stepped in as CEO when his experience and overview were needed. In a crisis year like 2022 with war, inflation and rising interest rates, Søren has been a safe front man for Danica Pension and ensured that, despite troubled markets, the company has come out of 2022 in the best possible way. We are therefore lucky to have Søren at us, until Mads Kaagaard takes over the post.

Berit Behring emphasizes that Søren Lockwood’s short time as CEO of Danica Pension is not due to dissatisfaction:

The entire board has been very satisfied with Søren’s work and results. But Søren himself has had a desire not to continue for many more years, so when the right candidate was found, the timing is right. When the opportunity to recruit a very strong candidate presents itself, you as a board have to act.”

Søren Lockwood joined Danica Pension in 2018 as commercial director after having been CEO of SEB Pension, which was acquired by Danica Pension.

I have been incredibly happy with my time at Danica Pension, and I am proud of the results I have achieved together with dedicated employees over the years. It has been a fantastic time with many good experiences – both professionally and collegially. I have always wanted my time as managing director not to last for many years, and I therefore look forward to passing the baton on to Mads Kaagaard. I will continue my work until Mads takes over and then ensure a good handover and start-up for Mads“, says Søren Lockwood.

As of 1 November 2023, the management of Danica Pension consists of:

• Mads Kaagaard, managing director
• Dorte Bilsgaard, commercial director
• Jesper Grundvad Bjerre, director of operations
• Thomas Dyhrberg Nielsen, CFO

In addition to the members of the executive board, Danica Pension’s business management consists of:

Birgitte Bille Ahrendt-Jensen (law), Charlotte Irene Thorsen (HR), Dorte Eckhoff (social responsibility and management secretariat), Helene Nergaard Hove (corporate governance), Jesper Hyldgaard Nielsen (risk management), Philip Grevit Juliussen (customer service), Poul Kobberup (investment ), Poul Møller (IT), Mette Ljørring Baden (compliance), Thomas Sandby Skrostrup (injury and health) and Louise Sommerfeldt (communication, marketing and public affairs), Bo Søndergaard (actuarial).

Source: Danica Pension
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