Skagen has appointed Øyvind Schanke, former chief investment officer for asset strategies at Norway’s Government Pension Fund, as chief executive officer.
Schanke (pictured) will take up the role on February 1 next year. He replaces Leif Ola Rød, who will remain CEO at the firm until March 1 next year to ensure a structured transition.
He joins from Norges Bank Investment Management, Norway’s Government pension fund, where he has served as chief investment officer for asset strategies since 2014. He joined the fund in 2001 as a senior trader, and has held a variety of positions ever since.
Prior, he served in sales positions at Scandinavian firms Gjensidige Nor Equities and Handelsbanken Markets.
Henrik Lisæth, chairman of Skagen’s board, said Schanke was well respected internationally for the results he produced at Norges Bank, and his experience would assist in the implementation of Skagen’s long-term strategy.
A spokesperson for the firm said Rød has taken the decision to depart in consultation and mutual agreement with Skagen’s board.
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