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.
At the weekend Landsbankinn will be introducing a new computer system. Work will start on the afternoon of Friday 17 November and is expected to be completed on Monday 20 November. While the system is...
Arion Bank reported net earnings of ISK 10.4 billion for the first nine months of 2017, compared with ISK 17.3 billion for the same period of 2016. Return on equity was 6.3%, compared with 11.2% for...
Standard & Poor’s has upgraded Arion Bank’s long term credit rating from BBB to BBB+ with a stable outlook. The Bank’s short term credit rating remains A-2.