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World’s biggest wealth fund draws no women in search for new CEO

In one of the world’s most gender-equal societies, a EUR 1 trillion sovereign wealth fund failed to attract a single woman to apply for its top job.

Trond Grande has been deputy CEO since 2011 and has been mentioned by Norwegian media as one of the most likely people to get the job. | Photo: PR / NBIM

The fund’s deputy chief executive, 49-year-old Trond Grande, appears to be the clear front-runner to head the world’s biggest investor of its kind, after the deadline for applications expired. Grande was among eight men eager to replace Yngve Slyngstad after the outgoing CEO oversaw an historic expansion of the fund over more than a decade.

Norges Bank Investment Management, the central bank unit that runs the fund, has in the past drawn criticism for its failure to promote more women to leading roles. Of the 12 people in its leadership group, only three are women. It’s a far cry from the female domination that characterizes Norwegian politics, where the prime minister, foreign minister and president of the Parliament are all women.

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