Knut Kjaer, chief executive officer of Norges Bank Investment Management (NBIM), joins RiskMetrics Group as president this month. NBIM is one of four arms of Norwegian central bank Norges Bank, and oversees the $370 billion invested in Norway's Government Pension Fund and its foreign reserves.
Kjaer will be responsible for global risk and corporate governance businesses, reporting to RiskMetrics CEO Ethan Berman.
Kjaer led the project at Norges Bank that created the investment management arm. Over his decade-long tenure, Norway's funds grew from $300 million to be the world's second-largest sovereign wealth fund.