Tangen Wants More Diversity at NBIM

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Stockholm (NordSIP) – At the start of October, Nicolai Tangen, the new CEO of Norges Bank Investment Management (NBIM) announced the fund’s new leader group. The group is made up of nine members, three less than previously. Asides from the CEO, the other members, are: Trond Grande, Chief of Staff/Deputy CEO; Age Bakker, CTO; Birgitte Bryne, COO; Mie Caroline Holstad,  Chief Real Assets Officer; Dag Huse, Chief Risk Officer; Carine Smith Ihenacho, Chief Governance and Compliance Officer; Petter Johnsen, Chief Equities Officer and Geir Øivind Nygård, Chief Asset Strategies Officer.

“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 commented.

- Promotion -

Commenting on the fact that women only represent 33% of the fund’s new leader group and 21% of the fund’s leadership positions, Tangen expressed his disappointment.“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.

“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.

Photo of Norges Bank building by Esten Borgos

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