Norges Bank Investment Management, which manages the Government Pension Fund Global, is integrating its active ownership function with its active management teams, as part of a wider reorganisation of its Governance and Compliance area.
As previously announced, Carine Smith Ihenacho is stepping down as Chief Governance and Compliance Officer. A review of the area has now resulted in a new organisational structure. The area currently consists of Active Ownership, Compliance, Operational Risk and Control and Legal and Tax.
Active Ownership, which is now led by Global Head Caroline Eriksen, will be placed in Active Strategies under Co-Chief Active Strategies Daniel Balthasar. Active Ownership includes our teams that work with voting and sustainability.
The change brings active ownership and active management together in one department, giving the fund shorter decision-making lines, closer coordination between ownership work and portfolio managers, and more holistic follow-up of the companies it owns.
The fund's strategic ambition in this area remains unchanged: to contribute to its investment goal through world-leading responsible investment, and to further strengthen its company engagements and voting.
"Bringing active ownership together with active management gives us shorter decision-making lines and a more holistic follow-up of the companies we own," says CEO Nicolai Tangen. "It strengthens our ability to safeguard the fund's long-term financial interests and to further build our engagement and voting."
Policy Engagement, such as the fund’s views and engagement with standard setters, will become part of Communications and External Relations under Chief Communications and External Relations Officer Marthe Skaar. This ensures a clear and consistent voice towards external stakeholders.
In addition, the fund's Compliance department and its Operational Risk and Control department will be integrated into Investment Risk, under Chief Risk Officer Patrick du Plessis. This brings the functions that monitor and control risk into one professional environment and strengthens independent risk oversight.
Legal and Tax will move to the Staff area, led by Deputy CEO and Chief of Staff Trond Grande.
The changes take effect on 1 January 2027.
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Email: press@nbim.no