Oljefondet gjør endringer

Norges Bank Investment Management (NBIM), which manages the Oil Fund, is restructuring its operations by integrating active ownership with active management of companies, according to a press release. Carine Smith Ihenacho resigns as head of the department, which now includes Active Ownership, Aftercare, Operational Risk, Control, and Legal and Tax.

Active Ownership, led by Caroline Eriksen, falls under the Active Strategies division under Investment Director Daniel Balthasar. This consolidation will provide a more holistic tracking of the companies NBIM owns. Oljefond-sjef Nicolai Tangen states that combining active ownership and active management will result in shorter decision-making processes and a more comprehensive tracking of the companies owned by NBIM.

He believes this will strengthen the fund's ability to safeguard its long-term financial interests and enhance its corporate dialogue and voting. The strategic ambition of the Oil Fund in this area - contributing to the investment goal through responsible management - remains unchanged. NBIM also moves the Legal and Tax department, as well as the divisions dealing with external actors, aftercare, operational risk, under this restructuring, which will strengthen independent risk tracking, according to the press release.