New Management Team at Norway’s Oil Fund
Norges Bank Investment Management (NBIM) has formed a new executive team with broad international competence. “This completes the final phase of an extensive reorganisation at NBIM that started with the appointment of Yngve Slyngstad as CEO in January 2008,” the Oslo-based fund said today.
The $410 billion Government Pension Fund – Global promoted Bengt Enge to chief investment officer, Trond Grande to chief risk officer and Age Bakker to chief operating officer. Mark Clemens from Citigroup Inc. will be chief administrative officer and Jessica Irschick from UBS AG chief treasurer.
“NBIM now has a management team with considerable international financial markets experience. An executive team has been established who will make NBIM well equipped to meet future challenges,” says Slyngstad.
With an international portfolio of around 8 000 companies, and offices in Oslo, London, New York and Shanghai, it is natural for NBIM to continue internationalising the organisation. “We already have 20 nationalities among our 230 employees and will grow abroad in the years ahead. This generates a need for executives with broad international experience,” stated the CEO of NBIM.
Also read “Norway’s Oil Fund Names New Executive Management Team” on Bloomberg.com