Today, the pension company Alecta announced that they are resigning their CEO with immediate effect. Their loss regarding the acquisition of the niche banks SIVB and others amounts to almost 1.8 billion dollars.
A representative of the company validates that $1.8 billion is an incredible amount of money for an individual, but still claims that it will hardly be felt at the individual level because savers have many years left (up to 20 years) before they start withdrawing the money.
I personally question if Alectra's management of nearly $1.8 billion over 20 years does not result in the investments increasing in value enough to make a noticeable difference to an individual saver, why would I want to let them invest my hard earned money!?!
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