Billing is history at Alecta as US investment failure leads to dismissal

The board of the Swedish pensions giant has fired CEO Magnus Billing, replacing him with the deputy CEO on a temporary basis. The chair will take on added responsibilities.
Alecta has fired its CEO, Magnus Billing, in the wake of the pension fund's failed US investments. | Photo: Pr / Alecta
Alecta has fired its CEO, Magnus Billing, in the wake of the pension fund's failed US investments. | Photo: Pr / Alecta

Seven years in the top job at Alecta came to an abrupt end for Magnus Billing on Tuesday morning as the board of Sweden’s largest commercial pension fund dismissed him with immediate effect.

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