Hermes Veteran includes new Board of the Norwegian oil fund

The introduction of a new advisory board governance enables the Pension Fund Global Norway better "protect" the growing value NOK4.4trn (€ 577bn) fund, said the CEO.   The Board of Corporate Governance is known by three veterans of the investment for the UK industry, including former Hermes Pensions Management CEO Tony Watson exist. The decision comes after oil fund has decided to adopt a more proactive approach and closer relations with the companies in which they major holdings already performed at Norges Bank Investment Management head Yngve Slyngstad join nominating committee for the Swedish automaker Volvo. Discussion of the decision to establish the Council for Corporate Governance, has announced that she saw published the details for the second quarter to 0.1%, the Fund is aim of contributing "High standards of social and environmental performance" in the companies it owns. Slyngstad added: "Our strategies will support the property management of the Fund and obtain the growing value for future generations." A spokesman confirmed that the board would consist of British NBIM University John Kay, who recently wrote a report for the British government on a sustainable long-term investment in shares and Peter Montagnon and Watson. Montagnon, a former journalist, has a decade of the Association of British Insurers spent before., The Financial Reporting Council, the regulator for the UK Stewardship Code in 2010 Watson, meanwhile, is a former CEO of Hermes and holds a number of positions of the independent directors in companies with Hammerson and Witan Investment Trust.  The spokesman said that the Committee IPE will meet at least four times a year, but NBIM reserved the right to call additional meetings if necessary.