Norway Finance Minister Meets with Norges Bank Governor to Discuss CEO Pick for NBIM

Posted on 08/22/2020

Norway’s Finance Minister Jan Tore Sanner met with the Norges Bank governor to discuss a political crisis over the appoinment of a hedge fund chief to manage Norway Government Pension Fund Global. Norges Bank disclosed in March 2020 that Nicolai Tangen would become CEO of Norges Bank Investment Management, while being able to hold a 43% ownership stake in his hedge fund company AKO Capital. Tangen’s stake in AKO Capital would be placed in a blind trust. However, the finance committee of Norway’s parliament believes that would still post a potential conflict of interest. angen has ruled out divesting his stake in AKO Capital, a firm that he founded.

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