NBIM merges active ownership with active management in structural overhaul

Norges Bank Investment Management, which runs the Norwegian sovereign wealth fund, is reorganising its Ownership and Compliance division. Carine Smith Ihenacho is leaving her role as director of the area that covers Active Ownership, Compliance, Operational Risk and Control, and Legal and Tax. The active ownership team, headed by Caroline Eriksen, will be folded into the Active Strategies unit overseen by investment director Daniel Balthasar, creating a single department for active ownership and active management.

Nicolai Tangen explained that the integration will streamline decision-making and provide more holistic monitoring of the companies in the fund’s portfolio. The fund’s strategic aim of responsible investing to support its investment goal remains unchanged. The restructuring also relocates the Legal and Tax department and the units handling external stakeholders, compliance and operational risk to strengthen independent risk monitoring.