The 53-year-old London-based hedge fund manager signed a contract that requires some sacrifices on his part in exchange for the title of chief executive of Norway’s $1 trillion wealth fund, the world’s biggest.
The entity that hired him and that manages the fund, Norges Bank, presented a set of terms it hopes will appease critics and allow Tangen to start as CEO on Sept. 1. The Supervisory Council of Norges Bank, its watchdog, is due to respond on June 11.
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