The chief executive of the Danish national pension scheme has stepped down from his post less than three months after appointing a new chief investment officer to the 926 billion Danish kroner (£106 billion) fund.

Carsten Stendevad, a former Citi banker who joined ATP in April 2013, is to leave the fund for family reasons, a spokesman said. He is to return to the US, having returned to his native Denmark to take up the role, ATP said.