Dutch pension fund APG has appointed Peter Bommel as the new chair of its supervisory board, succeeding current chair Pieter Jongstra.

Bommel will assume the position from 1 April 2023 for a period of four years.

He was CEO of Deloitte in the Netherlands from 2012 to 2019 and a director of Deloitte’s global organisation.

Prior to that, Bommel was managing partner of Deloitte’s audit practice and chair of curatorium of the Auditing School at VU University.

He is currently chair of the VU University Association and a member of the supervisory board at Flynth Group.

“The Netherlands is on the eve of a major overhaul of the pension system,” commented APG supervisory board chair, Pieter Jongstra.

“APG and its pension fund clients are preparing the transition to a new pension system in a complex administrative and financial environment.

“This demands a lot from the supervisory board and I am particularly pleased that with Peter Bommel we are getting such an experienced and expert director as chairman of the supervisory board.

“He has brought about a very radical transformation and quality impulse as CEO of Deloitte. He also has extensive knowledge and experience in areas such as stakeholder management, risk management, financial management and corporate governance.

“The supervisory board is looking forward to a fruitful cooperation with him."

In other news, APG Asset Management CIO, Peter Branner, is to leave the company at the end of April to join Aberdeen Investment Management.

Since his appointment in 2018, Branner has been responsible for investment management activities and optimising responsible and long-term returns.

After Branner’s departure, the CIO position will be split into a CIO capital markets and a CIO private investments.

These positions will be filled on an interim basis, and pending AFM approval, by Herman Slooijer (capital markets) and Patrick Kanters (private investments).

Commenting on his departure, Branner said: "I am moving back to London later this spring to take on a new challenge at Aberdeen Investment Management.

“I look back on a wonderful and intensive time at APG Asset Management. As CIO, I have seen the organisation grow significantly and professionalise further.

“I felt privileged to have been able to work here as CIO, together with a great team. I am confidently handing over my position to my two successors."

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