CEO of $1 Trillion Wealth Fund Says He ‘Really Screwed Up’
Yngve Slyngstad
Photographer: Ole Berg-Rusten/AFP via Getty Images
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The outgoing chief executive of Norway’s $1 trillion sovereign wealth fund has apologized to his staff for straying from compliance rules in accepting a free flight from the hedge fund manager set to replace him.
“I really screwed up,” Yngve Slyngstad wrote in an internal memo sent to employees and seen by Bloomberg News. “I am truly sorry for letting you down, for letting the reputation of Norges Bank Investment Management down, and for letting our organizational culture down.”