NORWAY - Tom Fearnley has been appointed investment director at a special unit for the Government Pension Fund at the Norwegian finance ministry.
Fearnley, who was Norges Bank's senior adviser for investment strategy, joined the ministry on 1 February, he told IPE today.
The new unit will review the Norwegian Government Pension Fund's investment strategy and ethical guidelines, and measure its investment performance. The fund has more than NOK1.8trn (€220bn) in assets.
Elsewhere, John Howchin, vice-president of GES Investment Services' international operations, announced he will leave the firm to join Norges Bank Investment Management (NBIM) as senior analyst.
NBIM is responsible for investing the international assets of the Norwegian Government Pension Fund.
GES Investment said that it has not yet found a replacement for Howchin, and that it is looking internally as well as externally for a candidate. "We are hoping to appoint someone during the spring," a spokeswoman said.
The move follows GES Investment's recent win of a socially responsible investing mandate from four Swedish buffer funds (AP1, AP2, AP3 and AP4), with assets in excess of €80bn.