Steinthor Palsson appointed CEO of Landsbankinn

May 24, 2010 09:42

The Board of Directors of Landsbankinn has engaged Steinthor Palsson to replace Asmundur Stefansson as CEO of the bank, reports with reference to Landsbankinn.

Steinthor concluded a contract of employment with Chairman of the Board, Gunnar Helgi Halfdanarson, at a meeting of the Board of Directors earlier today. Steinthór will take up the position on 1 June.

42 applications were received for the post of CEO.

Gunnar Helgi Halfdanarson is pleased with the appointment. "Steinthor has a great deal of management experience and possesses the qualities the Board sought for. The aim was to find a CEO with leadership skills and solid business sense combined with banking experience; a person who could work well with the bank's customers, its Board and employees. The Board of Directors places tremendous importance on appointing a powerful and competent executive who can lead Landsbankinn as the bank endeavours to regain its place as the key financial institution in Iceland.

Steinthor Palsson builds on a long and successful career as a manager of financial institutions and production companies, both in Iceland and abroad, and a great deal of experience of change management and policy formulation.

Steinthor looks forward to taking on the challenge. "I am quite aware that times are hard for Icelandic business and industry and that Landsbankinn's activities are important to economic recovery. In my opinion, the bank has a great deal of capital in its employees and is in a position to accept the responsibilities it is entrusted with. I look forward to getting to know the bank's employees and join them in working towards growth and prosperity.

Steinthor is married to computer specialist Aslaug Guthjonsdottir. The couple has two daughters.

Positions held: 1986-1989 Managing Director of the Debt Financing Department of Verzlunarbanki Íslands.
1990-2000 Various positions with Íslandsbanki, including Head of the Credit Department, Investment Loans of Branch Services, Risk Management and Corporate Services, in addition to an active part in policy formulation work and the merger process of Íslandsbanki with its predecessor.
2001-2002 Chief Financial Officer and Manager of Operations of biotechnology company Urður, Verðandi og Skuld.
2002-2010 Managing Director of Actavis in Malta, Managing Director of Actavis in the US and, for the past 2 years, Managing Director of Policy Formulation for the Actavis Group in Iceland.

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