Norway appoints Paal Longva deputy central bank chief

Norway's government has appointed Paal Longva as deputy chief of the country's central bank, the finance ministry said on Wednesday. Longva has been head of operations at the finance department of the finance ministry since 2011, the government said in a statement.

Norway's government has appointed Paal Longva as deputy chief of the country's central bank, the finance ministry said on Wednesday.

Longva has been head of operations at the finance department of the finance ministry since 2011, the government said in a statement. His responsibilities will focus on "central bank operations", rather than on Norway's $1.2 trillion sovereign wealth fund, which is managed by a unit of Norges Bank.

Longva will be the first deputy chair of the bank's executive board, as well as first deputy chair of the bank's monetary policy and financial stability committee. Longva takes on the role left vacant by Ida Wolden Bache, who was appointed central bank governor in March.