Oslo: Norway named central bank executive board member Egil Matsen as deputy governor in charge of overseeing its $860 billion wealth fund.
Matsen, 46, is a professor at the Norwegian University of Science and Technology in Trondheim. He was appointed to a six- year term for the newly created position. He has served as a member of the board that decides monetary policy and oversees the wealth fund since 2012. He has a PhD from the Norwegian School of Economics.
“The newly created position of deputy governor is a very central position in Norges Bank with special responsibility for the fund,” Finance Minister Siv Jensen said in a statement. “Egil Matsen is an authority in financial studies. I’m sure he will do a good job and provide the Executive Board additional capacity and expertise in asset management.”
Matsen’s start date has yet to be decided, according to the government, which also did not provide details on whether it will replace his existing position on the board and expand it to eight members.
“Matsen is an outstanding professional with expertise and knowledge of macroeconomics and finance,” central bank Governor Oeystein Olsen said in an emailed comment. “He will be a great asset in the work with the fund.”
