Denmark’s AP Pension has secured its largest contract to date with the addition of financial services firm, Nykredit, of which it is part owner.

Nykredit has most recently been a customer of Velliv but AP Pension is set to take over the management of over 4,000 employees’ pension savings.

In a statement provided to European Pensions, AP Pension CEO, Bo Normann Rasmussen, said: "Nykredit is one of Denmark's largest financial companies with over 4,000 employees, which makes them the largest company in our customer portfolio.

“We are incredibly proud that they have chosen AP Pension as their future pension supplier.”

Nykredit is a leading financial services company in Denmark with its main activities being mortgage lending and banking.

It is primarily owned by an association of customers, including a group of Denmark’s leading pension companies, which in total have a 16.9 per cent share.

These are AP Pension, PFA Pension, PensionDanmark, PKA and MP Pension. Their share was bought for DKK 11.6bn in November 2017.

European Pensions has contacted Nykredit for further information.

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