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Portrait photo of Øyvind Schanke
Øyvind Schanke will be the new CEO with effect from 1 February 2017. Photo: NBIM

At NBIM, Schanke has been the Chief Investment Officer for Asset Strategies for Norway's Government Pension Fund Global ("the oil fund") since 2014, a fund with NOK 7,100bn under management. He has been responsible for the global management of the broad equity and fixed income portfolios. Schanke has been employed at NBIM since 2001 and has 21 years of experience from the financial industry. Schanke takes over from Leif Ola Rød who has been CEO in SKAGEN since 2014.

Chairman of the Board, Henrik Lisæth commented:
"The Board is delighted that Øyvind has accepted the CEO position. He is well respected internationally for his results at NBIM. Øyvind has the solid relevant experience to implement SKAGEN's long-term strategy. The Board is convinced that Øyvind is the right person to take leadership of SKAGEN going forward. Furthermore, the Board is grateful to Leif Ola, who has done an admirable job securing stability and effective operations during a challenging period."

Øyvind Schanke commented:
"It is an honour to be appointed CEO of SKAGEN, one of the strongest asset management brands and organisations in the Nordic region. SKAGEN is well known for active, contrarian stock picking and for putting clients' interests first. I am excited to be leading the firm and helping realise SKAGEN's ambition to be the preferred provider of actively managed funds."

Prior to joining SKAGEN, Schanke held various positions at NBIM including Head of Trading and Global Head of Equity Trading before being appointed Chief Investment Officer for Asset Strategies. He has also worked at Gjensidige Nor Equities and Handelsbanken Markets. Read Schanke's CV.

Leif Ola will remain in SKAGEN until 1 March 2017 to secure a smooth handover and close the 2016 fiscal year.

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Historical returns are no guarantee for future returns. Future returns will depend, inter alia, on market developments, the fund manager's skill, the fund's risk profile and management fees. The return may become negative as a result of negative price developments.