NORWAY - Norges Bank Investment Management (NBIM) has appointed Yngve Slyngstad to succeed Knut N Kjær as its executive director.
Svein Gjedrem, governor, NBIM executive board, commented: "Slyngstad is highly qualified and he has achieved excellent results. He has been with the organisation since the beginning ten years ago and knows NBIM very well."
The new executive director is qualified in law, economics and political science and was most recently responsible for the NOK90bn (US$16.6bn) invested by the Government Pension Fund - Global in equities and the fund's London office.
Kjær announced his resignation from the position in September.
The Norwegian Government Pension Fund - Global, the world's second largest fund, has around NOK2200bn (US$406bn) in assets under management.