Erik Sandersen appointed new CEO of Norfund
He succeeds Tellef Thorleifsson, who announced his departure in January.
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Erik Sandersen has been appointed as the new chief executive officer of Norfund, the Norwegian investment fund for developing countries. Sandersen has 25 years’ experience in the financial sector. For the past ten years, he has led Norfund’s financial inclusion department.
“The board is very pleased to have appointed Erik Sandersen as the new CEO of Norfund. He has strong investment expertise, in-depth knowledge of Norfund’s work and a strong commitment to the fund’s mission,” says Olaug Svarva, chair of the Norfund board of directors.
As chief executive officer, Sandersen will be responsible for Norfund’s three mandates. These include the original development mandate from 1997, aimed at reducing poverty through job creation in developing countries. They also include the Climate Investment Fund, which Norfund has managed since 2022, and the Ukraine Fund, established in December 2024.
“Norfund’s profitable investments are an effective tool for development – whether it is about creating jobs in low-income countries, avoiding emissions in emerging economies or contributing to reconstruction in Ukraine. I look forward to leading the organisation going forward at a time when access to the capital and expertise we can offer is becoming increasingly important,” says Sandersen.
Sandersen joined Norfund in 2014 as investment director in the financial inclusion department, which invests in banks, microfinance and fintech. The department aims to contribute to job creation in small and medium-sized enterprises.
Since 2016, he has led the department. From 2024, he has also led the work on the Ukraine Fund. Over a number of years, he has represented Norfund on the boards of, among others, Arise, an investment company that invests in banks and other financial institutions in sub-Saharan Africa, and Abler Nordic (formerly Nordic Microfinance Initiative), which invests in financial inclusion institutions across Africa and Asia.
Prior to Norfund, Sandersen spent ten years as a co-founder and partner in a Norwegian venture capital firm. He also has experience from Boston Consulting Group, as well as leadership roles in the IT sector. Sandersen holds a master’s degree in computer science from NTNU and an MBA from Stanford University.
Sandersen succeeds Tellef Thorleifsson, who in January announced that he would step down as chief executive officer. Sandersen takes up the position on 1 July.
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