New leadership at Brummer & Partners

Ola Paulsson has been operating in the group since 2004 and has worked closely with management and the Board of Directors on group-related matters for many years. His most recent role was as COO of BMS and before that he has had several senior positions in the group.

Mikael Spångberg was until 2012 head of the Alternative Investment team at SEB, where he was in charge of research and evaluation of hedge fund management. Mikael has been working at Nektar Asset Management for the past five years, and has since 2013 been the Deputy CEO, working closely with the fund managers as well as strengthening the dialogue with its institutional investors.

In connection with the change of CEO, BMS is making further changes to its organisation. The current Head of Research, Markus Wiklund, will become Deputy Managing Director/COO and the analyst Kerim Celebi will take over as Head of Research. 

“Ola and Mikael complement each other perfectly. Both have long experience and in-depth knowledge of our business, both strategically and operationally. Ola will be able to step into the role quickly as he knows the group maybe better than anyone. Mikael has the most relevant background for the role as Managing Director of BMS. In their respective roles they have what it takes to successfully lead and take the group forward,” Patrik Brummer, Chairman of Brummer & Partners and Brummer Multi-Strategy AB, says. 

“I am happy to have been entrusted with this role and feel humbled by the responsibility. Brummer & Partners is a well managed company but, like every organisation, we do have the potential to improve even more. Through this separation of responsibilities, I will be able to focus all my attention on matters of group wide interest, while Mikael can devote his full focus on BMS,” Ola Paulsson, newly appointed CEO of Brummer & Partners, says.

“My main focus will be on working together with the BMS team to improve and refine our processes in order to ensure a more accurate evaluation of new and existing fund management teams. Our business model, which involves working with the fund management teams to create added value for BMS’s investors, gives us great opportunities. The role is very stimulating but also involves big responsibility” BMS’s new Managing Director and Portfolio Manager, Mikael Spångberg, says.

“We thank Klaus for all his good work as CEO of the group and as a Portfolio Manager at BMS. His work has, during the last 18 years, contributed greatly bringing the company to its current position,” Patrik Brummer concludes.

Brummer Multi-Strategy

The Brummer Multi-Strategy fund is currently invested in nine hedge funds with different strategies. All strive to generate returns which over time are independent of the performance of the market (alpha). Over the past few years BMS has intensified its efforts to improve the analytical tools and process for the fund’s investments, both quantitatively and qualitatively. Year to date, BMS has generated a return of 3.4 per cent and BMS 2xL has achieved a return of 6.4 per cent2, largely thanks to a sharply positive alpha in those funds which take long and short positions in equities (long/short equity). BMS’s return has been achieved despite negative contributions from the systematic algorithmic funds, a category of funds that has generally had weak performance over the period.   

High resolution image of Mikael Spångberg and Ola Paulson

1 The appointments are subject to approval from the Swedish Financial Supervisory Authority. 
2 Estimate for Brummer Multi-Strategy as at 31 May 2017.

Funds in which Brummer Multi-Strategy invests

* Estimate % of BMS, 31 May 2017
** Estimate, 31 May 2017

Press contact

Jacob Lannerö, Director of Public Affairs. Telephone +46 (0)761-11 14 86. E-mail media@brummer.se. 

Biographies 

Ola Paulsson, CEO of Brummer & Partners AB 
Ola came to Brummer & Partners in 2004 and has since held a number of senior positions in the group, most recently as Chief Operating Officer for BMS AB. He was previously Deputy Managing Director of B & P Fund Services AB and General Counsel. In his various roles Ola has worked mainly on group-related matters, business development and Brummer & Partners’ international expansion. Having graduated with an LL.M., Ola has worked as a trainee lawyer at the Södra Roslags District Court and then as a senior associate lawyer at Gernandt & Danielsson Advokatbyrå when joining Brummer & Partners.

Mikael Spångberg, Managing Director and Portfolio Manager, Brummer Multi-Strategy AB
Mikael Spångberg joined Brummer & Partners as COO of Nektar Asset Management in September 2012 and has been Deputy CEO since August 2013. Before that he was Managing Director and in charge of SEB’s Alternative Investment team, including the wholly owned SEB subsidiary Key Asset Management in London. From the second half of 2007 he was put in charge of a team at SEB Merchant Banking that managed several portfolios in alternative strategies. He was a portfolio manager for SEB Merchant Banking’s hedge fund investment portfolio from 2003 and a credit analyst for hedge funds at SEB from 2000. Mikael Spångberg holds a M.Sc. degree in Financial Economics.

Markus Wiklund, Deputy Managing Director of Multi-Strategy AB
Markus joined Brummer & Partners in 1997 and has held various senior positions in the group over the past few years, most recently as Head of Research for BMS AB. Before that, he headed the risk and valuation team at B & P Fund Services AB. Markus’ main focus in these positions has been in the areas of portfolio risks, portfolio composition and analysis of portfolio manager performance. After graduating with an M.Sc. in Engineering and an M.Sc. in Economics and Business, Markus started working as a quantitative analyst at the Nektar fund in 1997, one of Brummer & Partners’ hedge funds.

Kerim Celebi, Head of Research at Brummer Multi-Strategy AB
Kerim Celebi has been working as an analyst at BMS since 2014. He has mainly focused on improving BMS’s research and allocation process, both quantitatively and qualitatively, while also helping to develop tools for monitoring the risk in the funds. Kerim has also spent a lot of time studying the funds in which BMS invests in order to understand and help to develop the investment processes, for the individual funds as well as for BMS as a whole. He has an M.Sc. in Finance from the Stockholm School of Economics.