Knut N. Kjær was appointed as the executive manager of Norges Bank Investment Management for the period up to 30 June 1998, with responsibity for developing the new management organisation.

Knut N. Kjær completed his degree in Economics in 1982. He was a research fellow at the Institute of Economics at the University of Oslo and was employed half-time in the Research and Information Department of Norges Bank in the period 1981-1982. He has also worked in the Research Department of Statistics Norway and participated in the "Scenarios 2000" project. In the period 1986-1994 he was researcher/senior partner in Econ, Centre of Economic Analsysis and was one of the founders of the company. He was executive vice president in Storebrand in 1994-1997 and a member of the company's corporate management.