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Deutsche Bank nominates former Norway wealth fund head to supervisory board -Breaking

by Mike Robinson

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© Reuters. Yngve Styngstad is the CEO of Norges Bank Investment Management. She speaks at a presentation about the Government Pension Fund, Oslo, Norway, February 27, 2018. NTB Scanpix/Ole Berg-Rusten via REUTERS

FRANKFURT/Reuters Deutsche Bank (DE) Yngve Slongstad was nominated by Germany’s largest lender to be on its Supervisory Board.

Slyngstad held the position of chief executive officer for Norges Bank Investment Management (the world’s largest sovereign fund), which he held for 13 year.

Recently, he joined Aker ASA in Norway to manage its asset management unit. He is currently focusing his efforts on renewable energy projects.

Deutsche is positioned to finance the shift to a sustainable future.

Mayree Clark oversees the nomination committee at the bank. “We will be able to benefit from his vast experience in sustainable investing as one of the pioneers, as well his current focus of cutting edge matters related climate change and the energy transition,” she said.

Gerhard Eschelbeck’s five-year term will soon end and Slyngstad will take his place.

The bank will call on shareholders to officially approve the move during its annual general meeting, which takes place in May.

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