Carsten Stendevad, the head of Citi's financial strategy group whose departure to lead the Danish public pension fund ATP was announced yesterday, has said his first priority in the new role is to maintain the fund's "strong, strong performance" amidst a challenging backdrop of low interest rates and financial turmoil.

ATP, worth €82bn, has recruited the 39-year-old Dane to succeed its outgoing chief Lars Rohde, who is departing next year to become the new governor of Denmark's central bank.