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Technology and ownership strengthened

Nicolai Tangen, CEO of Norges Bank Investment Management, has established the fund’s new leader group. The leader group’s main responsibility is to deliver good return for our community.

6 October 2020

The fund strengthens its focus on technology by including both a Chief Operating Officer, Birgitte Bryne, and a Chief Technology Officer, Age Bakker, in the leader group.

«In the years to come, we will continue working with new technology that can improve the management of the fund. We are not only a financial institution. We are also an IT business. We must be among the leaders in technology and analysis of large amounts of data to earn the highest possible return for future generations. We process 30 million transactions a year. That is more than the Oslo stock exchange and illustrates the enormous amounts of data that we process”, says Nicolai Tangen.

The leader group is reduced from twelve to nine people. Four areas are combined into two new ones. The fund’s strategies complement each other and two of the investment areas will be combined. By combining areas, the fund can gain even more synergies in its management.

“We have formed a smaller leader group to strengthen our areas of expertise and gain more synergies. Our main responsibility is to continue to deliver good return. The new leader group will be a collective decision-making body. Decisions that are broadly anchored are better and less likely to be changed”, Tangen says.

In the new leader group, ownership and compliance and control is combined. Carine Smith Ihenacho will lead the new area.

“We will strengthen the fund’s ownership work in the years to come. This is a rapidly evolving field, and we aim to be a global leader. We will work with our expectations to companies, and we will strengthen our ownership dialogue. The compliance and control area is also more important than ever. We will continue building good systems and routines to be in the forefront of developments”, Tangen says.

The share of women in the fund’s new leader group will be 33 percent. The share of women in leader positions in the fund is 21 percent.

“This is not good enough. One of my primary priorities is to promote diversity. A good organisation needs employees with different perspectives. We will relaunch our trainee program to achieve an even more diverse working environment, and I want to promote more skilled women”, Tangen says.

Press contact:

Marthe Skaar
Phone: + 47 926 17 663

Read more about the leader group