AMWatch

New CEO of Norway’s EUR 906 billion fund in make-or-break moment

Norway is about to reveal whether the man chosen to run its EUR 906 billion (USD 1 trillion) wealth fund has passed a key test to prove he won’t be bogged down by conflicts of interest.

Nicolai Tangen, CEO, Norwegian oil fund | Photo: Tony Colli/PR

On Wednesday, the entity that asked London-based hedge-fund manager Nicolai Tangen to become chief executive of the fund is meeting to discuss how to get him past the finish line.

The Executive Board of Norges Bank, which manages the fund, needs to prove to its watchdog that Tangen’s handling of his personal wealth -- an estimated EUR 784 million (USD 865 million) -- won’t be an issue. It also needs to address his firm’s use of tax havens and how that affects the transparency around his assets.

Read the whole article

Get 14 days free access.

No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from AMWatch

New paper slams model portfolio boom for conflict of interest

So-called model portfolios -- off-the-shelf investment strategies often comprising bundles of ETFs -- are ridden with conflicts of interest, according a trio of academics, including Associate Professor from the Norwegian School of Economics Nataliya Gerasimova.

Further reading

Related articles

Latest news

Jobs

Latest news from FinansWatch (dk)

Latest news from EnergyWatch

Latest news from ShippingWatch