Lýdur Thór Thorgeirsson has been appointed managing director of Investment Banking at Arion Bank and will take up his position on 25 October. The managing director of Investment Banking reports directly to the CEO and Lýdur has a place on the Bank's Executive Committee.
Lýdur has a BSc in electronic and computer engineering from the University of Iceland and an MBA from MIT Sloan School of Management, and he is also a certified stock broker. Since 2010 he was been with GAMMA Capital Management hf, first as a fund manager of institutional investor funds and since 2013 as managing director of alternative investments. Lýdur is married to Ragnheidur Hardardóttir and they have three sons.
Ida Brá Benediktsdóttir, who had been managing director of Investment Banking since 2016, took over as managing director of Retail Banking at Arion Bank on 1 July.
Investment Banking at Arion Bank comprises Corporate Finance, Capital Markets and Research. The main role of the division is to bring together buyers and sellers on the financial market and to advise companies and investors on how to develop their business. The main services provided by Investment Banking are securities and FX brokerage, corporate finance and research. Investment Banking has approximately 30 employees.
Arion Bank hf. has agreed to a buyback of 9.5% of issued share capital in Arion Bank from Kaupskil ehf, a subsidiary of Kaupthing ehf.
Arion Bank reported net earnings of ISK 14.4 billion in 2017, compared with ISK 21.7 billion in 2016. Return on equity was 6.6%, compared with 10.5% in 2016.
Arion Bank hf. (“Arion Bank”) and Kaupthing ehf. (“Kaupthing”) announce today the results of a private placement of shares in Arion Bank owned via Kaupthing’s wholly-owned subsidiary, Kaupskil ehf.