Investing.com -- Nicolai Tangen, 58, has been confirmed for a second term as the Chief Executive Officer (CEO) of Norway’s sovereign wealth fund, according to an announcement by the central bank on Tuesday. Tangen initially took the helm of the fund in September 2020, with his first term set to last for five years.
In November, Tangen expressed his intention to continue in the role, stating that he felt his task was not yet complete. This sentiment was echoed by the central bank governor, Ida Wolden Bache, who praised Tangen’s extensive experience and deep understanding of international investment management.
Norway’s sovereign wealth fund, valued at $1.8 trillion, is the largest in the world. Its primary function is to invest the profits from the Norwegian state’s oil and gas revenues into foreign bonds, stocks, property, and renewable projects. This announcement ensures that Tangen will continue to guide these investments for another term.
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