CapMan, the listed Finnish investor, has has appointed a new interim chief executive following the resignation of Heikki Westerlund earlier this year.

Joakim Frimodig, a member of CapMan's management group, will step up to the role pending the recruitment of a full-time chief executive.

Following the appointment of a permanent head, Frimodig will become deputy chief executive.

"Over the past year, I have assumed more responsibility for creating and executing CapMan's strategy and as interim CEO I can continue this work," he said.

Frimodig has been responsible for strategic growth initiatives at CapMan since April 2016. He joined CapMan from Summa Capital where he had worked since 2004 – most recently as deputy managing partner.

Prior to Summa, Frimodig served as an advisor for Nordic asset manager Alfred Berg and ABN Amro Corporate Finance.

Heikki Westerlund, who had held the position of chief executive since August 2013, stepped down in March this year to "focus on his growing responsibilities as a board professional".

He agreed to remain in the role until the board of directors chose a suitable replacement.