NORWAY – Leif Eide, a key figure in the development of the current investment strategy at Norges Bank, the central bank of Norway, is to retire from his position as foreign financial investments adviser to the governor of the bank.
In his role Eide dealt with the investments of the Petroleum Fund and foreign exchange reserves.

Together with Jan Qvigstad, Eide was executive director for monetary policy of the bank until 1998, after which he continued as adviser to the governor. Qvigstad has since been the only executive director for monetary policy.

Norges Bank has not yet made any plans to replace Eide as foreign investments adviser.
“What will happen in this area has not been decided yet, but in my view the need is not the same today as three years ago, when the management of the petroleum fund, and in particular its equity investments, gave the bank new challenges,” says Eide.

Eide will continue as chairman of the board of the bank’s pension fund until January 2002.