New CEO of Norway’s Wealth Fund May Remain U.K. Tax Resident

Nicolai Tangen, the London-based hedge-fund manager tapped to lead Norway’s $1 trillion sovereign wealth fund, may remain a tax resident in the U.K.

The details of Tangen’s situation were published by the Finance Ministry on Wednesday, and are based on a March 17 email from Norway’s central bank. The contents of the email suggest that profits from Tangen’s personal investments would be taxed in the U.K., not Norway.

Tangen’s recruitment as the next CEO of the world’s biggest wealth fund is under review as the top watchdog overseeing the investment vehicle probes questions surrounding his personal fortune.

The central ...