Industri Kapital has lost its second senior figure in just over a year as its deputy chairman, Tom Rygh, has quit to become the chief executive of Enskilda Securities, the investment banking arm of SEB.

The deputy chairmanship was not an executive role and the blow will be less severe to Sweden's largest private equity firm than the loss of Harald Mix, its deputy chief executive, last autumn. But institutional investors are often unsettled by senior changes at private equity firms, to whom they commit capital for several years.