After 22 years as CEO at Sparinvest Per Noesgaard resigns on September 1, 2018, where he will be succeeded by Jørgen Søgaard-Andersen, who has had title of both Deputy CEO and Investment Director since the turn of the year.
In order to ensure a successful managerial shift, Per Noesgaard and Jørgen Søgaard-Andersen have worked together on both internal – and external management since Jørgen Søgaard-Andersen joined Sparinvest in April 2016.
Chairman of the Sparinvest Group Klaus Skjødt comments:
"On behalf of the Board, I am very pleased that Sparinvest can now change the CEO in such a good and well-prepared manner. The cooperation between Per Noesgaard and Jørgen Søgaard-Andersen has been close, and I cannot imagine a better way to make such an important change. Per Noesgaard and I have worked really well together, and I would like to thank him for the many years he has worked for Sparinvest. On the other hand, I also look forward to working with Jørgen Søgaard-Andersen, who has already shown his worth in the role of both Investment Director and Deputy CEO."
Since he started as CEO of Sparinvest on October 1st, 1996, the now 60-year-old Per Noesgaard has headed an impressive development in Sparinvest, where capital under management (AUM) has risen from DKK 2 billion in 1996 to now DKK 85 billion The high growth has been achieved on the basis of a number of strategic initiatives within both investment strategy and expansion of the business area.
Among the most important steps are the merger with AndelsInvest the year after Per Noesgaard joined Sparinvest, implementation of the value strategy, the establishment of Sparinvest Holding, and the establishment of a subsidiary in Luxembourg in 2001, and in the same year, the launch of the first mixed funds and a number of passive index funds through Sparindex. Among the latest initiatives are the very successful pension concept Lokal Puljeinvest and the start of the digital distribution platform at the beginning of this year. All decisions that have helped secure the growth of Sparinvest and prepare the company for the future.
For the past three years, Sparinvest has managed to meet the goals of the so-called "Vision 2018" plan, and after the fulfilment of the plan, Per Noesgaard and the board have found the timing right to allow Jørgen Søgaard-Andersen to take over the work on the future goals in a "Vision 2022" plan .
Per Noesgaard states:
"I am very pleased with the appointment of Jørgen Søgaard-Andersen and I simply cannot imagine a better person both professionally and personally to take over the helm in Sparinvest. I'm also pleased to be able to deliver Sparinvest with the best starting point to reach the goals of “Vision 2022”."
While Per Noesgaard has a banking background, the 52-year-old Jørgen Søgaard-Andersen comes from the investment side, where he, before his employment at Sparinvest in April 2016, was the investment manager of a Dutch company, managing director of risk management at ATP Alpha and head of Trading Market Risk in Group Risk Management in Nordea.
As Investment Director in Sparinvest, Jørgen Søgaard-Andersen has initially used his background in risk management to refine the risk frames Sparinvest works with.
Jørgen Søgaard-Andersen comments:
"I feel incredibly privileged that Per Noesgaard and I have been able to work so close together making me able to draw on Pers experiences while making my own. With the fulfilment of the “Vision 2018” plan, I am ready to take the lead and go ahead with the “Vision 2022” plan, which is approved by the board and will be announced soon."