All posts by Janice Gundersen

Citi Appoints Christian Aho as Country Head for Norway

Accounting / Financial, Business News

April 4, 2024 – Citi has appointed Christian Aho as Country Head and Head of Banking for Norway. His appointment will be effective from May 1, and he will be based in Oslo to lead Citi’s Norwegian franchise.

Christian joins Citi from HSBC, where he has held several senior positions. He was most recently working in a Chief of Staff function. Prior to that, Christian was Director Nordic Banking in the Nordic team, setting up the office for HSBC in Stockholm.

Christian will report to Erik Savola, Citi’s Nordic Head. He succeeds Pål Rokke who recently left Citi to pursue other opportunities.

Prior to HSBC, Christian held various banking roles, working for NatWest, Bank of Tokyo Mitsubishi, and Barclays.

“I am confident that Christian will make a significant contribution to the continued growth of the Norwegian franchise and bring the full value of Citi’s global network to the bank’s clients. His extensive banking experience, wide network in the financial industry and leadership skills, make him an ideal fit for Citi in Norway, says Erik Savola, Nordic Head.

Read full article here.

Stor omstrukturering i MSD Norge – blir snart 100 ansatte

Business News, Health

Legemiddelselskapet MSD Norge omstrukturerer hele organisasjonen, og har fått færre avdelinger og flere ansatte totalt. Samtidig mister tre ansatte jobben, bekrefter External Affairs Director Hans Petter Strifeldt.

Strifeldt bekrefter overfor HealthTalk at selskapet i løpet av neste uke vil lyse ut syv stillinger på norsk og nordisk nivå. Når stillingene er besatt, vil selskapet ha rundt 100 ansatte i Norge.

Strifeldt, som er kjent som direktør for myndighetskontakt og kommunikasjon i selskapet, har også fått utvidet ansvar gjennom endringsprosessen, og er nå såkalt External Affairs Director, som blant annet inkluderer samfunnskontakt og markedstilgang-funksjoner.

– Vi gjør nå justeringer i organisasjonen, gjeldende fra 1. april. Vi har rokert på flere av våre ansatte basert på ønske og behov, og vi har redusert fra fire til tre avdelinger, sier Strifeldt til HealthTalk.

Fortsetter ekspansjon
Ifølge han gjøres justeringene nå for å forberede organisasjonen på det som kommer i MSDs pipeline de kommende årene.

– Vi har utvidet avdelingen for kliniske studier med seks ansatte siden i fjor sommer. Vi skal nå rekruttere til tre nyopprettede nordiske stillinger, og i tillegg er vi på jakt etter kandidater til fire ledige stillinger i MSD i Norge.

Strifeldt påpeker at endringene totalt sett er en styrking av organisasjonen, men at det også er en endringsprosess.

Read full article here.

SLB Buys Majority Share in Aker Carbon Capture

Business News, Energy

SLB agreed to acquire an 80 percent ownership in Aker Carbon Capture for an initial payment of $381.8 million.

Global energy technology company SLB has agreed to acquire an 80 percent ownership in Aker Carbon Capture (ACC).

SLB said in a media release this move will support accelerated industrial decarbonization at scale.

SLB stated that ACC will own a 20 percent stake in the resulting entity, which integrates complementary technology portfolios, top process design knowledge, and a well-established project delivery system. This partnership will capitalize on ACC’s existing commercial carbon capture solutions and SLB’s advancements in technology and industrialization capacity, SLB said. Together, they aim to fast-track the integration of cutting-edge early-stage technology into the global market using a proven commercial platform.

SLB noted that according to the International Energy Agency (IEA), carbon capture, utilization, and sequestration (CCUS) will play a critical role in the net-zero transition. The agency estimates that over one gigaton of carbon dioxide (CO2) per year will need to be captured by 2030, scaling up to over six gigatons by 2050.

“For CCUS to have the expected impact on supporting global net-zero ambitions, it will need to scale up 100-200 times in less than three decades”, said Olivier Le Peuch, chief executive officer at SLB. “Crucial to this scale-up is the ability to lower capture costs, which often represent as much as 50-70 percent of the total spend of a CCUS project. We are excited to create this business with ACC to accelerate the deployment of carbon capture technologies that will shift the economics of carbon capture across high-emitting industrial sectors”.


Read full article here.

Kahoot! announces new Board of Directors to help bolster growth and innovation under new ownership

Business News, Communications/PR/Media

March 18, 2024 – Kahoot!, the learning and engagement platform company, today announced a new Board of Directors, chaired by Gavin Patterson, former President of Salesforce and CEO of BT Group. The appointment of the new Kahoot! Board follows the acquisition by Goldman Sachs Asset Management, General Atlantic, KIRKBI, company management and others, and subsequent delisting from Oslo Stock Exchange. This marks the start of a new era for the company, reinforcing Kahoot!’s product innovation agenda, global sales efforts and further strengthening the company’s market position through targeted M&A.

“I am proud to take an active part in the next chapter of Kahoot!’s remarkable journey. Kahoot! has transformed the way millions of people learn, teach, play and work around the world. With a growing base of millions of users, an unparalleled global brand, versatile product portfolio, and world-class team, now supported by a powerful new ownership, Kahoot! can double down on its position as a category leader in a market with expected strong growth in the coming years,” said Gavin Patterson, new Chair of the Board of Kahoot!. 

Kahoot!’s new Board of Directors consists of global industry leaders and executives in a diverse mix covering growth and transformation of digital learning companies, scaling of enterprise software and SaaS businesses, deep tech and product innovation, finance, customer experience and M&A. The Board consist of: 

  • Gavin Patterson, Chair of the Board, former President and Chief Revenue Officer of Salesforce and CEO of BT Group; 
  • Joe Belfiore, Vice Chair of the Board, former Microsoft senior executive, most recently CVP and Head of the Office Product Group;  
  • Stacey Childress, Senior Advisor McKinsey & Company, former CEO of NewSchools Venture Fund;
  • Ashley Andersen Zantop, Chairman and CEO of Cambium Learning Group, former educator and longtime edtech executive; 
  • Stine Halla, SVP Finance of Schibsted Nordic Marketplaces;
  • Michael Bruun, Global Co-Head of Private Equity, Goldman Sachs Asset Management; 
  • Nana Bule, Operating Advisor, Goldman Sachs Asset Management & Board professional, former CEO of Microsoft Denmark & Iceland;  
  • Chris Caulkin, Managing Director and Head of Technology for EMEA, General Atlantic;  
  • Andreas Hansson, Board professional & Director in AutoStore, former Chair of the Board in Kahoot!; 
  • Charlotte Kristiansen, Employee representative, Kahoot!;
  • Alexander Remen, Employee representative, Kahoot!.

“We are very excited to partner with Kahoot! and back the new Board of Directors to help the company realize its full potential. Together with a strong group of co-investors we are ready to support further investment in developing a must-have product offering for corporate customers as well as the education sector, and a targeted M&A agenda. The potential in the online learning and engagement space is enormous, and with the resources behind Kahoot!, the company has the potential to deliver significant growth both organically and through strategic acquisitions,” said Michael Bruun, Global Co-Head of Private Equity at Goldman Sachs Asset Management.

Read full article here.

Norway keeps interest rate on hold, eyes September cut

Business News, Financial / Investment
OSLO, March 21 (Reuters) – Norway’s central bank kept its benchmark interest rate unchanged at a 16-year high of 4.50% on Thursday, as unanimously expected by analysts, and signalled it plans a single cut to the cost of borrowing this year, fewer than anticipated by most economists.
 
“The rate path we’re presenting today indicates… an autumn rate cut, most likely in September,” Governor Ida Wolden Bache told a press conference.

A second rate reduction could follow by the end of March 2025, she later said.
The Norwegian crown strengthened to 11.51 against the euro by 1050 GMT, from 11.53 just before the announcement.
 
The forward rate curve for the years 2024 to 2026 was largely unchanged from levels seen in December, Norges Bank’s monetary policy report showed, with a rate of 4.25% at the end of the current year.
Analysts in the Reuters poll on average have forecast that Norges Bank will cut the cost of borrowing twice in the second half of 2024, to 4.0% by year-end.
 
Read full article here.

Trump allies eye changes to IRA tax credit rules

Business News, Trade

The Democrat-only IRA included a suite of tax credits for climate-friendly energy sources and electric vehicles as part of an effort to combat climate change. It also included money for grants that subsidize climate-friendly or pollution-cutting projects and a program to punish oil and gas companies for leaks of planet-warming methane. 

Since its passage, the law has been in the crosshairs of Republicans. If they win the White House and both chambers of Congress, they’re likely to aim for at least a partial repeal.

If they win the presidency but don’t get both houses of Congress — or need time to work out the specifics of a repeal — a second Trump administration could also go to executive action to curtail the law’s reach.

“We need a strategy for day one, thinking about how we can put the American taxpayer first,” said Oliver McPherson-Smith, director of the Center for Energy & Environment at the America First Policy Institute, a right-wing nonprofit that includes several Trump administration alumni.

Read full article here.

AmCham Financial Forum: AI in the Finance Function & Global Risk Updates

AmCham News

AmCham Financial Forum: AI in the Finance Function & Global Risk Updates

 

Cross-industry member leaders gathered at Marsh McLennan’s Skøyen offices for a morning Financial Forum focusing on top business risks for 2024 and modernizing financial teams.

Marsh McLennan’s Commercial Lead Per Haagensen and Head of Sales Risk Management Christoffer Torkildsen guided us through the findings of their latest Global Risk Report, jointly published with the World Economic Forum.

In the 19th iteration of the report the top three risk concerns for the next two years were 1) Cyber 2) Societal Polarization and 3) Extreme Weather – whereas the top three concerns for the next 10 years were 1) Armed Conflict 2) Cyber and 3) Extreme Weather. The major changes in the 2024 report were found in the short-term responses, potentially because we have just come out the other side of a pandemic (2022) and inflation (2023) and this year will be a big election year in many countries.

Participants discussed the responses as well as underappreciated risks such as terrorism, which has dropped off the top list. War has completely dropped off the list – “this is no longer a risk; this is a fact.”

Classes Thumbnails (49)

Per Haagensen – Commercial Lead

Christoffer Torkildsen – Head of Sales Risk Management

General Purpose AI in the Finance Function, today and tomorrow

AI can help CFOs manage all essential tasks of the finance function — from budgeting and cost/benefit analyses to managing revenue streams and compliance. PwC’s AI Director Lars Leganger joined participants to present AI developments focusing on how to best maximize financial team workflow transitions.

Leganger emphasized that leaders must think carefully about how to apply AI in existing processes and gave examples of good use cases. He noted the need for modernization of the financial team, quality control and the need for experienced data scientists.

Leganger is an expert on the use – and the prevention of misuse – of advanced analytics, machine learning, and AI in business process automation and augmentation. In addition to advisory work, he and his teams develop internal AI-solutions for PwC’s audit, tax, and legal practices.

 

Lars Leganger – AI Director

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About the AmCham Financial Forum

AmCham’s collaborative Financial Forum enables cross-industry leaders to openly exchange and learn from their peers – building a better understanding of what it takes to maintain successful international operations in Norway.

Please contact amcham@amcham.no for interest in future meetings.

HOD: Metodevurderinger SKAL fullføres innen 180 dager

Business News, Health

 

Helseministeren kommer med et tydelig krav til Direktoratet for medisinske produkter: Alle metodevurderinger av legemidler skal fullføres innen 180 dager.

Dette nye tiltaket, som er en markant innstramming fra tidligere retningslinjer, tar sikte på å fremskynde tilgangen til nye og potensielt livsforbedrende legemidler for pasienter. 

Kravet fra Helseministeren kommuniseres i Tildelingsbrevet til Direktoratet for medisinske produkter (DMP). Men det er ikke aktuelt med forskriftsfesting av kravet, statssekretær Karl Kristian Bekeng (AP) i Helse- og omsorgsdepartementet (HOD) til HealthTalk.

Kraftfullt grep fra Kjerkol

Et tildelingsbrev er et styringsdokument fra et departement til en underordnet etat, som angir politiske prioriteringer, mål, oppgaver, og økonomiske rammer for et kommende år. Det sikrer at etaten arbeider i tråd med regjeringens politikk og mål, og spesifiserer krav til rapportering og forvaltning av tildelte ressurser.

I lys av økende politiske frustrasjoner etter årevis med lang og stadig økende saksbehandlingstid for vurderinger av nye legemidler, har helseministeren nå tatt et kraftfullt grep for å adressere problemet. 

Read full article here.

Microsoft rolls out Copilot AI tool to finance teams

Business News, Technology

The move is part of Microsoft’s effort to layer AI across its enterprise offerings, with the ambitious goal of impacting every role in the workplace.


Dive Brief:

  • Microsoft on Thursday announced that it’s publicly rolling out a corporate finance version of its virtual assistant known as Copilot, which is powered by generative artificial intelligence technology.

  • Microsoft Copilot for Finance, which is now in “public preview” mode, has been embedded into Microsoft 365 apps such as Excel, Outlook and Teams, with the goal of making financial processes like accounts receivable collections and forecasting analysis more seamless, according to a blog post.

  • “We’ve been testing it ourselves as customer zero, you could say, for several weeks now,” Cory Hrncirik, modern finance lead at Microsoft, said in an interview.  

Read full article here.

HOD: Metodevurderinger SKAL fullføres innen 180 dager

Business News, Health

Dette nye tiltaket, som er en markant innstramming fra tidligere retningslinjer, tar sikte på å fremskynde tilgangen til nye og potensielt livsforbedrende legemidler for pasienter. 

Kravet fra Helseministeren kommuniseres i Tildelingsbrevet til Direktoratet for medisinske produkter (DMP). Men det er ikke aktuelt med forskriftsfesting av kravet, statssekretær Karl Kristian Bekeng (AP) i Helse- og omsorgsdepartementet (HOD) til HealthTalk.

Kraftfullt grep fra Kjerkol
Et tildelingsbrev er et styringsdokument fra et departement til en underordnet etat, som angir politiske prioriteringer, mål, oppgaver, og økonomiske rammer for et kommende år. Det sikrer at etaten arbeider i tråd med regjeringens politikk og mål, og spesifiserer krav til rapportering og forvaltning av tildelte ressurser.

I lys av økende politiske frustrasjoner etter årevis med lang og stadig økende saksbehandlingstid for vurderinger av nye legemidler, har helseministeren nå tatt et kraftfullt grep for å adressere problemet. 

Les hele artikkelen her.