Ole Christian Bech-Moen will leave Norges Bank Investment Management to become director of the monetary policy department at the country's central bank.
Mr. Bech-Moen will replace Ida Wolden Bache, a Norges Bank news release said. He will be responsible for providing advice on setting the country's key policy rate and other aspects of policy. Details on when he begins were not available.
He joins from NBIM, which runs the assets of the 10.7 trillion Norwegian kroner ($1.17 trillion) Government Pension Fund Global, Oslo, where he has been CIO of allocation strategies since October 2014. He joined NBIM in 2009.
The new CEO at NBIM, Nicolai Tangen, "is currently working on establishing the new leader group, and this will be announced in October," a spokeswoman for NBIM said. "Questions related to the leader group will be answered after the leader group has been announced."
Spokesmen for Norges Bank could not immediately be reached for comment.