Nicolai Tangen has been reappointed for a second five-year term as chief executive officer of Norges Bank Investment Management (NBIM), Norway’s central bank announced today.
Ida Wolden Bache, governor of Norges Bank and chair of the executive board of NBIM, said: “Nicolai Tangen is highly experienced with in-depth insight into international investment management.
“Over the past four and a half years, he has demonstrated a strong ability to deliver and achieve solid results as CEO of NBIM,” she said.
The board saw Tangen, whose new contract will start in September, as the right person to head NBIM in the years ahead, she added.
Tangen said: “Creating wealth for the Norwegian people is the most rewarding job I have ever had. I therefore deeply appreciate this renewed trust and look forward to five more years with my talented colleagues.”
Tangen, a gregarious former hedge fund tycoon, was a controversial choice back in 2020 to replace Yngve Slyngstad as NBIM CEO, but despite criticism recently for being too informal in his communication with Elon Musk, his open style appears to have boosted interest within Norway in working for the sovereign wealth fund.
While only eight people applied for the NBIM CEO job alongside Tangen in 2020, this year the number of applicants had risen to more than 80.
On LinkedIn today, Tangen posted a video of himself climbing precariously onto an office chair to get close to a digital tally of his days left at NBIM.
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Rachel is IPE's Nordic correspondent.
She has long been a freelance writer, and over the years, has written for The Telegraph, The Independent, The Observer, AMWatch and elsewhere.
In 2001, Rachel's personal finance book Kickstart Your Money was published by John Wiley & Sons.View full Profile
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