NORWAY - Norges Bank Investment Management (NBIM), the manager of Europe's largest pension fund, has appointed Espen Klitzing as CFO and deputy CEO.
NBIM CEO Knut Kjær said the firm created the CFO and deputy CEO positions so different governance and strategic functions could be managed by one important position.
"The investment heads will still report to me, but most of the other areas will report to directly to [Klitzing]," said Kjær.
Klitzing officially takes up the role on 2 May and will be responsible for the central management and analysis functions excluding investment activities.
He will join from Petrojarl ASA, where he was CEO. Prior to that, he spent five years as CEO of Storebrand Livsforsiking.
NBIM manages more than €246bn in the international capital markets. It is responsible for managing the €180bn government pension fund, Global, which accounts for most of the assets under management.
The investment manager is one of the world’s largest institutional investors and NBIM currently has offices in Oslo, London and New York.
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