COPENHAGEN (Reuters) -Nicolai Tangen has been appointed to a second time period as CEO of Norway’s huge sovereign wealth fund, Norges Financial institution Funding Administration, the central financial institution stated on Tuesday.
Tangen, 58, who turned the fund’s CEO in September 2020 for a five-year interval, stated in November he would search a brand new time period as chief government of the sovereign wealth fund as he felt the job was not but accomplished.
“Nicolai Tangen is very skilled with in-depth perception into worldwide funding administration,” central financial institution Governor Ida Wolden Bache stated in a press release.
The $1.8 trillion sovereign wealth fund, the world’s largest, invests the proceeds of the Norwegian state’s oil and gasoline revenues in overseas bonds, shares, property and renewable tasks.
“Creating wealth for the Norwegian individuals is probably the most rewarding job I’ve ever had. I subsequently deeply recognize this renewed belief and sit up for 5 extra years with my proficient colleagues,” Tangen stated within the assertion.
The fund holds stakes in near 9,000 corporations globally, equal to 1.5% of all listed shares, and has set the tempo on many points within the area of environmental, social and company governance (ESG).
Tangen, a rich former hedge fund supervisor, has a extra outspoken fashion than his two predecessors and is, amongst different issues, internet hosting company leaders on a podcast, together with one he held with Tesla CEO Elon Musk.
Tangen later clashed with Musk, in response to a document of a dialog between the 2 launched in January.
(Reporting by Stine Jacobsen, enhancing by Anna Ringstrom and Terje Solsvik)
COPENHAGEN (Reuters) -Nicolai Tangen has been appointed to a second time period as CEO of Norway’s huge sovereign wealth fund, Norges Financial institution Funding Administration, the central financial institution stated on Tuesday.
Tangen, 58, who turned the fund’s CEO in September 2020 for a five-year interval, stated in November he would search a brand new time period as chief government of the sovereign wealth fund as he felt the job was not but accomplished.
“Nicolai Tangen is very skilled with in-depth perception into worldwide funding administration,” central financial institution Governor Ida Wolden Bache stated in a press release.
The $1.8 trillion sovereign wealth fund, the world’s largest, invests the proceeds of the Norwegian state’s oil and gasoline revenues in overseas bonds, shares, property and renewable tasks.
“Creating wealth for the Norwegian individuals is probably the most rewarding job I’ve ever had. I subsequently deeply recognize this renewed belief and sit up for 5 extra years with my proficient colleagues,” Tangen stated within the assertion.
The fund holds stakes in near 9,000 corporations globally, equal to 1.5% of all listed shares, and has set the tempo on many points within the area of environmental, social and company governance (ESG).
Tangen, a rich former hedge fund supervisor, has a extra outspoken fashion than his two predecessors and is, amongst different issues, internet hosting company leaders on a podcast, together with one he held with Tesla CEO Elon Musk.
Tangen later clashed with Musk, in response to a document of a dialog between the 2 launched in January.
(Reporting by Stine Jacobsen, enhancing by Anna Ringstrom and Terje Solsvik)
