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Former Danske Bank CIO joins Abu Dhabi Investment Authority

Experienced investor will become a member of the newly-created strategy & planning department.

Former Danske Bank CIO joins Abu Dhabi Investment Authority

Danske Bank’s former chief investment officer, Anders Svenessen, has joined the Abu Dhabi Investment Authority (ADIA), Citywire Selector has learned.

A spokesperson for the institution confirmed the change and said Svenessen was named global head quantitative research and development in August of this year.

In this new role, Svenessen will be a member of ADIA’s newly-created strategy & planning department. The aim of the unit is to apply a systematic, science-based approach to developing and implementing investment strategies. 

‘This multi-disciplinary team will draw on the latest scientific developments, in areas such as machine learning, big data and high performance computing,’ Svenessen told Citywire Selector.

The senior asset allocator left Danske Bank alongside Jesper Langmack, chief investment officer of equities and alternatives at Danica Pension, in February this year.

Their respecitve exits took place shortly after Danske Bank group announced it is discontinuing 400 positions and cutting 230 jobs.

Svenessen joined the Danish firm in 2014 and previously was co-CIO of investments at pension provider ATP.

He is not the only senior hires ADIA made for the new division. ADIA  hired Marcos Lopez de Prado in September for the identical role as global head quantitative research and development.

Lopez de Prado had most recently been professor of practice at Cornell University’s School of Engineering, teaching machine learning, and is co-founder and CIO at True Positive Technologies.

It is also not the first time ADIA  hired experienced European experts. ABN Amro’s former head of manager research Olivier Couvreur joined the asset owner at the end of 2018.

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