Norway fund manager named deputy CEO

Trond Grande on Thursday was named deputy CEO of Norges Bank Investment Management, which manages the assets of the 3.1 trillion Norwegian kroner ($548 billion) Government Pension Fund-Global, Oslo.

He replaces Stephen Hirsch, who stepped down in October.

Mr. Grande was chief risk officer at NBIM. He will keep those responsibilities; a decision on hiring a replacement has not been made, said NBIM spokesman Oystein Sjolie.