Connect with us
Finance Digest is a leading online platform for finance and business news, providing insights on banking, finance, technology, investing,trading, insurance, fintech, and more. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

NEWS

Norway wealth fund CEO denies pay discrimination in case by female employee

Norway wealth fund CEO denies pay discrimination in case by female employee

By Victoria Klesty

OSLO (Reuters) – The chief executive of Norway’s $1.4 trillion sovereign wealth fund, Nicolai Tangen, on Tuesday denied accusations of gender pay discrimination at the fund during a court case brought by a female employee.

Elisabeth Bull Daae, head of trading analytics at Norges Bank Investment Management, is suing the unit of the central bank that manages the fund for 16 million crowns ($1.5 million) in compensation and damages.

Daae said she was paid less than her male colleagues doing equivalent jobs for a decade, a claim firmly rejected by the fund.

“We don’t discriminate on pay. There are no differences linked to gender,” Tangen told the court.

He said there were differences in the level of responsibility between roles that involve making investment decisions – roles to a larger extent filled by men – and those that do not.

“The pay in those two categories is very different in the labour market and we have to adapt to that,” he said.

Taking responsibility for investments is a completely different job, involving more stress and work rarely confined to office hours, he said. Those in roles with less pressure, he added, should not demand equivalent levels of pay.

Tangen said the fund’s organisation had done its utmost to solve the conflict and avoid going to court, but that Daae had rejected all offers proposed by the fund, where she still works.

One offer involved two years’ salary paid to Daae, a one-year project at the fund, extra training and taking Tangen’s services as a consultant should she wish to set up her own business.

($1 = 10.7537 Norwegian crowns)

 

(Reporting by Victoria Klesty; Editing by Conor Humphries)

 

Continue Reading

Why pay for news and opinions when you can get them for free?

       Subscribe for free now!


By submitting this form, you are consenting to receive marketing emails from: . You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Posts