At the Annual General Meeting on Wednesday, 18 March 2020, Carsten Stendevad was elected as new member to the Board of Directors of Novo Holdings A/S.

Lars Rebien Sørensen, Chairman of the Board of Directors of Novo Holdings, says: “I am delighted that Carsten Stendevad is joining the Board of Novo Holdings. He brings valuable experience, knowledge and insights from his impressive international career in economic analysis and investment management.”

Over the past 20 years, Carsten Stendevad has held leadership positions at various global financial institutions. He is currently a senior executive at Bridgewater, an investment management firm based in the United States and also serves as an advisor to the Investment Strategies Committee of GIC, Singapore’s sovereign wealth fund.

Previously, Carsten Stendevad was CEO of ATP, Denmark’s largest pension and social security provider, a managing director in Citi’s Investment Banking division in New York, and a management consultant with McKinsey & Company. He started his career in the Central Bank of Denmark. He is trained as an economist from the University of Copenhagen and Harvard Kennedy School of Government.

“I am delighted to join the Board of Novo Holdings, a leading global life science investor with an impressive investment track record. And I am particularly looking forward to being part of a team working to achieve a long-term positive impact on health, science and society,” says Carsten Stendevad.

Novo Holdings is the holding and investment company of the Novo Group companies with total assets of DKK 411 billion (EUR 55 billion) as of the end of 2019.

Novo Holdings is wholly owned by the Novo Nordisk Foundation and currently wholly or partly owns more than 100 life science companies. Novo Holdings diversifies its investments portfolio by investing in assets outside the life sciences. The assets comprise a global portfolio of primarily liquid equity and fixed-income securities. At the end of 2019, these Financial Investments had a value of DKK 62 billion (EUR 8.3 billion). www.novoholdings.dk.