Norwegian fund management company SKAGEN has appointed Tim Warrington as its new CEO, with immediate effect.

Warrington has been working as the acting CEO of SKAGEN since May 2018, after Øyvind Schanke resigned from the post.

“Together with my Skagen colleagues, I look forward to leading the company through the next phase in our development together with Storebrand. Our focus remains the delivery of best risk adjusted returns and service to all our clients,” Warrington stated.

Warrington has been associated with SKAGEN for more than ten years and was appointed as the company’s deputy CEO in June 2013.

Before assuming the role of deputy CEO, he was in charge of international distribution and domestic wealth management at the company.

SKAGEN chairman of the board Odd Arild Grefstad said: “Tim has detailed industry knowledge, strong leadership skills and represents continuity and stability for both clients and employees.

“We are confident that he has the business acumen and determination needed to lead the company and implement SKAGEN’s strategy going forward.”

The company also announced that its current investment director Alexandra Morris will continue in her position, which she has held since September 2016.