NBREM Shutters, Executives Shuffle Around at NBIM

Posted on 04/02/2019


On February 6, 2019, Norges Bank’s Executive Board decided to scrap its mega ambitions in private real estate. Norges Bank Investment Management (NBIM) is closing its real estate unit Norges Bank Real Estate Management (NBREM), with effect from April 1st this year. NBIM then reorganized a few leadership positions.

According to a NBIM press release, “Karsten Kallevig enters the fund’s leader group as Chief Investment Officer Real Estate with effect from 1 April, and Nina Hammerstad is appointed Chief People and Operations Officer from 1 June. Kallevig comes from the position as CEO of Norges Bank Real Estate Management (NBREM) and Hammerstad was Chief Operating Officer in NBREM.

Chief Human Resources Officer Sirine Fodstad will leave the fund 31 May to take on a new position as CEO for the holding company in the Grieg Group, Grieg Maturitas.
Per Løken, Romain Veber and Mie Holstad will continue to report to Karsten Kallevig.

Jan Thomsen and Lars O. Dahl are taking up leading positions in respectively Compliance and Control, led by Stephen A. Hirsch, and Investment Risk, led by Dag Huse.

The remaining leader group members will continue in their positions in the fund’s new leader group.”

Source: NBIM

Keywords: Norway Government Pension Fund Global.

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