Stockholm-based financial group Catella has named its current president and CEO Johan Ericsson as the new head of corporate finance, one of the two operating segments in Catella.

Stockholm-based European financial group, Catella, has named current president and CEO Johan Ericsson as the new head of corporate finance, one of the two operating segments in Catella.

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Ericsson will succeed current head of corporate finance Anders Palmgren, while Knut Pedersen will step in to act as the new president and CEO.

The company said that the role of head of corporate finance will be shared with a person who is to be hired. By implementing the dual leadership structure, Catella plans to concentrate both on current operations and on business development.

Catella chairman of the board Johan Claesson said, "We are very pleased that Johan Ericsson will be heading our Corporate Finance business. Johan has been instrumental in building Catella’s strong presence, especially within property."

Furthermore, the company is planning to launch a recruitment drive to hire a second person to head the Corporate Finance business, who will share the responsibilities with Johan Ericsson in a dual leadership structure.

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"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," Claesson added.

Catella manages 24 offices in 12 nations across Europe.