August 10, 2022

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Norwegian Politics, Net Basak

Norwegian Politics, Net Basak

Net in case These are the comments written by the editor of Netavicen.

Decisions are being made about who will be the new Governor of the Central Bank of Norway and who we will know when interest rates rise.

Supporters of Jens Stoltenberg highlight his political career and international experience, while supporters of Ida Woltenback point to solid financial expertise and long experience from key areas of Norges Bank.

The debate is further intensified by a series of small drops that paint a picture of a political network that sought to influence the government to appoint Stoltenberg.

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If Jens Stoltenberg was hired against the wishes of the majority, it would be considered friendly.

Personally, I have been negative about Stoltenberg’s candidacy from day one because his long Labor party career and close friendship with the Jonas Kahr store destroy Norges Bank’s independence and make Stoltenberg unfit for work.

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Jens Stoltenberg should resign and save the government from the new Norges bank mistake

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Jens Stoltenberg’s close political ties make him irrelevant as chairman of Norges Bank

Most observers, economists and the majority in Sorting seem to agree with this assessment, yet no one knows how Finance Minister Trickway Sloxwold will decide his role. Many believe until the last that Jens Stoltenberg will withdraw his application.

The comrade and the iron stand out from the triangle

However, there are only two current applicants on the list, namely Jens Stoltenberg and Ida Wolden Bache.

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No one found that the list of applicants included another candidate who had financial expertise, international experience and long experience in managing central banks and how to manage funds such as petroleum funds.

The problem for the foreigner is that he has created an impressive career abroad, especially in Switzerland, one of the banking centers of the world. He was therefore not part of Kameratklubben Grei or raised in the so-called Iron Triangle between the Ministry of Finance, Statistics Norway and the Bank of Norges.

A dark horse from Basel

Wikipedia defines a dark horse In a situation, especially in a competition between multiple competitors, or a participant who appears to be the winner of the paper, but still a winner, a previously unknown person or thing.

So, who is this unknown challenger? Name Jacob Bejorheim. He is the same age as Jens Stoltenberg, and has a record that is not obscured by the Stoltenberg or Walton talk when it comes to the Petroleum Fund and the central bank.

Keep oil funds under supervision

One planned argument for Jens Stoltenberg is that he should keep Nikolai Tangan and the oil fund in his ears. The controversy fell to the ground when it was learned that Tongan and Stoltenberg had dinner together and discussed the work of the Norges Bank.

But if that is an important argument, Jacob Bejorheim can hit the desk by writing a textbook on how to manage values ​​in central banks.

Seas: Jacob Bejorheim: Asset Management in Central Banks and Monetary Powers

But Bijouheim is not only a researcher in this field, he has actually led the management of the giant International Settlement Bank (BIS) for ten years – popularly known as the Central Bank of the Central Bank.

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Education, work experience and research

If you look at the academic record, it is far from over. He began with a master’s degree in economics at St Galen’s High University, and topped the list with a new master’s degree, and later a doctorate from the London School of Economics.

His career was at UBS (United Bank of Switzerland), one of the largest private banks in the world – where he headed financial management. He then worked for BIS for 13 years, which is the heart of international liquidity and is owned by about 60 central banks worldwide.

Now he is sitting on the board Pension fund of the giant research firm Chern, And in a country full of banking professionals and managers like Switzerland you are not a job that goes out of hand.

Researcher and lecturer at top universities

After he left BIS in 2017, Bjorheim taught and He studied banking and finance at the best universities in Basel and Zurich.

In addition, he sits on the boards of financial management of the Union Bank of Switzerland and CERN.

UBS is a private bank and not a national oil fund, but it is not a question of small change. According to the latest figures, USB Asset Management manages about $ 800 billion – or about 7,000 billion kroner.

From the management of outsiders in Switzerland, he now sits on a group of funds that are not as big as the oil fund, but not too far away.

Norwegian arrogance towards overseas potential

The most interesting thing about the use of Jacob Bejorheim being completely ignored in public view is the Norwegian arrogance we often have over foreign expertise.

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The Oil Fund is the largest fund in the world, but Oslo is not the world’s financial center. The University of Oslo has a proud history with many Nobel laureates, but the London School of Economics and St. Gallen are significantly higher in the international rankings.

London School of Economics, from which Bjorheim holds a PhD Nine Nobel laureates for the previous economy. St. Gallen has produced heads of state and Nobel laureates.

Now there is a foreigner for a managerial job at Norges Bank – a dark horse who has been openly overlooked by the interlocutors for the post.