Jon Nicolaisen Exits Norges Bank over Security Clearance Issue
Posted on 12/04/2020
Jon Nicolaisen, the Deputy Governor of Norges Bank, is resigning with immediate effect after he was not granted a new security clearance. Nicolaisen did not get clearance as his wife has ties to China and resides in China. Western governments are getting tougher on security controls against potential areas of risk in China. It is no secret that countries conduct espionage, but recently, the U.S. has publicly revealed details of Chinese and compromised Americans passing trade secrets to the Chinese government.
“The Norwegian Civil Security Clearance Authority informs me that the reason that I will not receive a renewed security clearance is that my wife is a Chinese citizen and resides in China, where I support her financially,” Jon Nicolaisen said in a statement on Friday.
Nicolaisen was appointed in 2014 and reappointed April 1, 2020. Norges Bank oversees the world’s largest sovereign wealth fund – Norway Government Pension Fund Global.