Norway's sovereign wealth fund CEO Slyngstad to step down

Yngve Slyngstad will step down as head of Norway's sovereign wealth fund after almost 12 years in the job, he said on Wednesday, although he will continue to work for the fund in a new position based in London.

Norwegian central bank Governor Oeystein Olsen told a news conference the search for Slyngstad's successor had begun, adding that the bank was "highly satisfied" with his performance as CEO. Slyngstad said he will change roles "in a few quarters".