OSLO (Reuters) -Norway has appointed Oeystein Boersum as deputy governor and executive board member of its central bank, with a dedicated mandate to supervise the world’s largest sovereign wealth fund, the government said on Friday.
Boersum, until now chief credit strategist at Swedbank in Oslo, was appointed to a six-year term.
While day-to-day operation of the $1.3 trillion fund is run by Norges Bank Investment Management and its chief executive, Nicolai Tangen, the central bank’s board sets its budgets and risk guidelines and manages relations with the finance ministry.
The Norwegian wealth fund owns on average 1.4% of all globally listed equities, making it one of the world’s largest stock market investors. It also owns fixed-income assets, unlisted real estate and renewable projects.
He replaces Jon Nicolaisen, who stepped down in December.
(Reporting by Terje Solsvik, editing by Gwladys Fouche)
