Distribution of company announcements to the professional platforms, finance portals and syndication of important corporate news to a wide variety of news aggregators and financial news systems.
Straumur - Burdaras hf (ICE:STRB) Three divisions at Straumur-Burdaras Investment Bank hf. - Capital Markets, Proprietary Trading and Merchant Banking - have been brought together to form a new group, Securities. The three divisions will continue to operate as separate units within Securities, reporting to Benedikt Gíslason, Managing Director and Head of Securities.
Skúli Valberg Ólafsson, Managing Director, has been appointed Head of Merchant Banking. The division of Merchant Banking was established earlier this year. It invests in listed and unlisted securities and alternative investments, and oversees relations to funds managed by the Bank's affiliates and subsidiaries, such as Straumur Capital Management (SCM), eQ funds, Wood & Co funds, Julia Capital Management, Bru, etc. Skúli has been employed with Straumur since 2003 and has managed a number of initiatives related to the Bank's development and growth, most recently as Chief Administrative Officer (CAO).
With this reorganisation the position of CAO will no longer exist within the Bank. The Bank's Operations division, headed by Jónmundur Gudmundsson, will now report to the CFO, Stephen Jack, and the Corporate Services group will become part of Human Resources, reporting to David Oddsson.
None of the changes outlined above entail personnel changes within Straumur's Management Committee.
For further information, please contact: Ólafur Teitur Gudnason, Vice President, Media Relations Corporate Communications olafur.gudnason@straumur.net tel: +354 858 6778
