Espen Klitzing strengthens Norges Bank Investment Management

Espen Klitzing (43) has been appointed Chief Financial Officer at Norges Bank Investment Management (NBIM). He will serve as deputy for Chief Executive Officer Knut N. Kjær and will be responsible for the central management and analysis functions

2 February 2007

Most recently, Mr. Klitzing was Chief Executive Officer of Petrojarl ASA. From 1999 to 2004, he was CEO of Storebrand Livsforsiking. He was employed by McKinsey & Co from 1988 until he joined Storebrand in 1999.

“Mr. Klitzing has extensive management experience, strong analytical and strategic skills and is an individual with very high integrity. His appointment entails a considerable strengthening of our management team as well as our capacity to address challenges in the years ahead,” Mr. Kjær states.

NBIM is one of the world’s largest institutional investors and manages more than NOK 2000 billion (USD 320 billion) in the international capital markets. The Government Pension Fund – Global accounts for the majority of the assets under management. NBIM currently has offices in Oslo, London and New York and may also establish an office in Asia in the near future.

Espen Klitzing will join NBIM on 2 May.