Norges Bank Investment Management (NBIM) has promoted Geir Øivind Nygård to CIO of asset strategies.
His appointment completes the trio of CIO roles at Norway’s sovereign wealth fund, including Petter Johnsen, CIO of equity strategies, and Ole Christian Bech-Moen, CIO of allocation strategies.
Previously global head of portfolio management for the 7.5 trillion NOK ($871. billion) oil fund, Nygård had served as interim asset strategies CIO since December 1.
“We are happy that Geir Øivind has accepted to take on the position,” said NBIM CEO Yngve Slyngstad in a statement. “He brings with him experience and deep knowledge of our asset strategies. He represents a good continuation of the successful effort within the area since the beginning.”
Nygård first joined the fund in 2007 as a portfolio manager in equity asset strategies, and has since held a number of “leading positions” within the fund, according to a release.
“I am excited and proud to get this opportunity,” said Nygård. “I am confident that we have a solid fundament for continued success within our asset management strategy.”
He holds a master’s degree in technology, industrial economics, and technology management from the Norwegian University of Science and Technology.
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