Staffan Grefbäck, head of Nordea Asset Management's long-term savings and life and mutual funds unit, is set to join rival Swedish firm Alecta Kapitalförvaltning as head of investment management.

Grefbäck is replacing Sverker Praski, who is taking up a newly created position at Alecta, formerly known as SPP, where he will be responsible for long-term and strategic analysis of Alecta's investments. Praski will report directly to Lars Otterbeck, president of Alecta.