Alecta chair, Ingrid Bonde, has left her position with immediate effect, the company has announced.

Her resignation comes in the face of turmoil at the company as it faces two separate investigations by Sweden’s Financial Supervisory Authority (FSA) over its investments.

In March this year, the company lost SEK 20bn following the crisis facing several US banks, which resulted in the FSA launching an investigation. Earlier this month a second investigation was launched by the FSA into Alecta’s investments in Heimstaden Bostad.

Bonde said she had become too much of the focus and so has decided to resign.

“With a new CEO and new management staff coming in, Alecta is well equipped for its challenges. I now need to devote my time and energy to my family and my other assignments," Bonde said.

The Board's First Vice Chairman, Jan-Olof Jacke, will now take over as chairman of the board until a new chairman is elected.

"Ingrid Bonde has, not least during her period as executive chairman of the board, worked with great dedication and personal sacrifice for Alecta's best interests and for this I would like to express my and the board's great thanks," Alecta chairman of the board of directors and chairman of Alecta’s drafting board (nomination committee), Kenneth Bengtsson, said.

"Alecta's board of directors is working together with the newly appointed CEO, Peder Hasslev, and Alecta's organisation to provide our customers with a good return, secure pensions and get us out of the crisis of confidence we are in.

“Finansinspektionen's review of how Alecta has handled the investments continues. Alecta's focus will not change because Ingrid Bonde has chosen to resign. We have a great understanding of Ingrid Bonde's decision and would like to thank her on behalf of the board for her significant contributions as chairman of the board,” Alecta first and second vice chairman of the board, Jan-Olof Jacke and Martin Linder, said.

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