Business
World’s biggest wealth fund’s embarrassing recruitment debacle – Sydney Morning Herald
The controversial hiring of Nicolai Tangen to run Norway’s $1.1 trillion wealth fund has reignited a debate over who controls the world’s largest sovereign investor.
“It’s obvious that there’s discontent with the process,” said Karin Thorburn, a professor of finance at the Norwegian School of Economics.
Nicolai Tangen, the London-based hedge fund manager selected by Norges Bank to run the wealth fund, is the man at the centre of the controversy. The 54-year-old has already agreed to forfeit control of his personal fortune, estimated at around $US860 million. But Norges Bank’s watchdog says that should have been dealt with before his appointment was announce…
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