AMWatch

CEO of world’s biggest wealth fund reflects on being unpopular

After months of drama and doubt, Nicolai Tangen is finally set to become the chief executive of Norway’s EUR 1trn wealth fund. He says staying cool in the face of unpopularity was key.

Nicolai Tangen, the incoming CEO of the Norwegian sovereign wealth fund, speaks during a news conference at the central bank in Oslo, Norway, May 28, 2020. Picture taken May 28, 2020. REUTERS/Gwladys Fouche/File Photo | Photo: GWLADYS FOUCHE/REUTERS / X03825

The 54-year-old will start running the world’s biggest sovereign investor on Sept. 1. To secure the job, Tangen had to strike a last-minute deal to give up the hedge fund he founded -- AKO Capital LLP -- after parliament balked at the potential conflict of interest.

For months, Tangen has had his face splashed all over Norwegian media as union bosses, politicians and academics listed why he was the wrong man to run their nation’s piggy bank. His life as a London-based hedge fund manager, his vast personal wealth -- average Norwegians would never be able to identify with him -- and his hobnobbing with the world’s jet-set elite made him an easy target for his critics.

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