Mark Gilbert , Columnist

Norway's $1 Trillion Gorilla Shouldn't Set Your Pay

The world's biggest wealth fund shouldn't be in the business of bullying companies on their compensation policies.

November 27, 2017 at 12:48 PM UTC

Corrected

November 27, 2017 at 4:11 PM UTC

Mark Gilbert is a Bloomberg Opinion columnist covering asset management. A former London bureau chief for Bloomberg News, he is author of “Complicit: How Greed and Collusion Made the Credit Crisis Unstoppable.”

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"Where does an 800-pound gorilla sit?" goes the riddle. "Wherever it likes," is the answer. Norway's $1 trillion wealth fund risks throwing its weight around in ways that exceed its authority, interfering in the sovereignty of other nations.

This year, the fund has voted against remuneration proposals at more of the companies it holds stakes in, its global head of ownership strategies Carine Smith Ihenacho told my Bloomberg News colleague Mikael Holter in an interview.