Norway’s Odin picks government fund head to be new chief executive
Rune Selmar is taking over as chief executive of Odin Forvaltning in Norway, following his role at the Norwegian Government’s Norfund – the Norwegian Investment Fund for Developing Countries.
Selmar (pictured) was head of Department, Financial Institutions and SME Funds at Norfund, which is owned by the Norwegian government through its Ministry of Foreign Affairs, and which is used as a tool in its development policy.
Selmar follows in the footsteps of Leif Ola Rød, who spent 13 years as Odin’s chief executive. Founded in 1990, Odin is a wholly owned subsidiary of Norway’s SpareBank 1 Gruppen AS, and is one of the biggest fund managers in the Norwegian market.
The company is focused on being a value-orientated equity fund manager.