NORWAY - Bengt Enge, chief investment officer at Norges Bank's investment division, has departed with immediate effect.

Norges Bank Investment Management, which oversees the assets of the Norwegian Pension Fund Global (NPFG), announced late last week that Enge was departing and that his last day would be 4 March.

A spokeswoman at NBIM declined to say whether his contract had expired or comment further on the departure.

Enge joined Norges 13 years ago in 1998 and has held a number of positions, including global head of external management, before being promoted to chief investment officer in late 2009.

Until a replacement has been appointed, chief executive Yngve Slyngstad will take over Enge's duties.

His resignation comes less than a month after Trond Grande was appointed as deputy chief executive, following the departure of Stephen Hirsch.

Grande was an internal hire, appointed chief risk officer at the same time Enge became chief investment officer.

According to the latest official results for NPFG from the end of September, the scheme now manages NOK2.9trn (€365bn) in assets.

End-of-year figures for 2010 are expected later this month, but a speech given by governor Øystein Olsen in February indicate it has since grown to NOK3.1trn.