On December 31, 2005, the Bank had 547 employees working. All Executive Board appointments are made by King Harald V, after decision by the Council of State. The Chairman of the Executive Board, Svein Gjedrem, whom presides over the Bank is also the acting Central Bank Governor. Both the Governor and the Deputy Governor grant make speech appearances across the country on a number of occasions each year.
NBIM is a separate part of Norges Bank and is responsible for investing the international assets of the Norwegian Government Pension Fund. NBIM also manages the major share of Norges Bank's foreign exchange reserves and the Government Petroleum Insurance Fund. NBIM invests in international equities and fixed income instruments, money market instruments and derivatives.
