Nicolai Tangen was reappointed as CEO of the world’s largest sovereign wealth fund for a second five-year term.
Tangen’s contract was renewed by the executive board of central bank Norges Bank, a statement said on March 18.
Tangen has been CEO of Norges Bank Investment Management, the in-house manager of the 18.86 trillion Norwegian kroner ($1.77 trillion) Government Pension Fund Global, Oslo, since September 2020. His next term begins on Sept. 1.
“Nicolai Tangen is highly experienced with in-depth insight into international investment management,” Ida Wolden Bache, chair of Norges Bank’s executive board, said in the statement. “Over the past 4 and a half years, he has demonstrated a strong ability to deliver and achieve solid results as CEO of NBIM. In the view of the executive board, Nicolai Tangen is the right person to head NBIM in the years ahead. We are pleased that he has accepted a further term as CEO.”
Prior to joining NBIM, Tangen was CEO and founder of hedge fund AKO Capital.
Norges Bank received 82 applications for the role. The central bank first posted the job advert in January.
