The current president and chief executive of the Swedish financial services group, Catella, Johan Ericsson, has been appointed as the new head of corporate finance, as the current corporate finance head resigns.

The current president and chief executive of the Swedish financial services group, Catella, has been appointed as the new head of corporate finance, as the current corporate finance head resigns. Leading one of the firm’s two operating segments, former CEO Johan Ericsson will share the role with a person who has yet to be recruited.

“Ericsson has been instrumental in building Catella’s strong presence, especially within property,” said Johan Claesson, chairman of the board.

A process will be initiated to recruit a second person to head the corporate finance business, the firm said, adding that the new dual leadership structure will enable it to focus both on current operations and on business development.

“The objective of the dual leadership structure is to give the managers the opportunity to focus on day-to-day business, and at the same time have resources to develop our Corporate Finance business further,” explained Claesson.

Former head of corporate finance, Anders Palmgren, left his position in the group management immediately, the firm added in the statement.

In addition, and as previously announced, Knut Pedersen succeeded Johan Ericsson as president and CEO of Catella on 1 January 2014.