469:
144:
31:
444:
was the chief executive officer of
Glitnir when the bank was taken into government administration late September 2008. The chief executive officer, appointed by the bank's board of directors, is responsible for the day-to-day operation of the bank pursuant to the policy and resolutions of the board
665:
580:
681:
1302:
1168:
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522:
445:
of directors. It is also the task of the CEO to ensure that the bank's operations are at all times consistent with the articles of association of the company and applicable legislation.
1279:
623:
646:
News: Based on New
Legislation, the Icelandic Financial Supervisory Authority (FME) Proceeds to take Control of Glitnir to ensure Continued Commercial Bank Operations in Iceland
380:
was announced in early
February 2007 and completed later in the spring of 2007. Glitnir announced strong profits for 2006, with a return on equity after tax of 39.4 per cent.
574:
1158:
685:
870:
756:
602:
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1114:
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558:
1173:
980:
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1523:
1264:
1188:
584:
1444:
1274:
902:
785:
403:
957:
389:
1104:
1518:
1198:
995:
529:
985:
1454:
1503:
1183:
1153:
1074:
1214:
1069:
935:
322:. Services included retail, corporate and investment banking, stock trade and capital management. Glitnir also had a fully owned bank in
710:
619:
1244:
1508:
1359:
1254:
1239:
1163:
1482:
1109:
940:
1437:
930:
357:), and 50.1 percent of Union Gruppen in Norway. In addition, Glitnir's subsidiary BNbank acquired 45 per cent of the shares in
1477:
1354:
1089:
1084:
735:
425:
36.5 billion. Glitnir Bank ASA was bought by 20 savings banks. The takeover was led by Finn Haugan, the managing director of
291:
The financial group
Glitnir offered universal banking and was a leading niche player in three global segments; seafood/food,
867:
596:
764:
1259:
1193:
1094:
895:
650:
311:
1178:
990:
552:
964:
252:
On 20 February 2009, in light of the
Icelandic financial crisis, the bank’s name was changed back to the original
1528:
1374:
1284:
952:
925:
1369:
1124:
1000:
888:
454:
497:
283:
which (reportedly by a number of companies) has an address in a single mailbox in the
British Virgin Islands.
358:
1079:
947:
296:
126:
789:
448:
1513:
1099:
426:
299:
242:
858:
406:. The government stated that it did not intend to keep the ownership of the bank for a long term period.
1449:
1396:
1349:
835:
1472:
845:
821:
1432:
1364:
441:
361:, an independent financial advisory company with 12 branches in key areas of Norway, in July 2006.
166:
114:
1414:
1390:
1048:
1021:
292:
118:
147:
1459:
706:
365:
241:
was the only major privately held commercial bank in
Iceland. It was publicly listed on the
217:. It was created by the state-directed merger of the country's three privately held banks -
1408:
911:
874:
862:
825:
654:
606:
562:
414:
41:
482:
260:
253:
1323:
1269:
1053:
487:
84:
353:) and Glitnir Kapitalforvaltning, the factoring company Glitnir Factoring (previously
1497:
1038:
1033:
1016:
474:
429:
which acquired a 25-percent stake in the bank. SpareBank 1 SMN is headquartered in
280:
731:
376:). The acquisition of 68.1 per cent of the shares in the Finnish investment firm
95:
61:
1402:
1043:
707:"News and Articles: The Government of Iceland provides Glitnir with new equity"
643:
492:
464:
323:
307:
136:
16:
This article is about the
Icelandic bank. For Glitnir in Norse Mythology, see
263:
would be taken over by the creditors of Old
Glitnir, while the government of
430:
326:(Glitnir Bank Luxembourg S.A) and banks and financial services companies in
1318:
315:
668:
News: Glitnir's
Operations Continued – Lárus Welding to continue as CEO
395:
372:, Glitnir owns the leading Swedish brokerage firm Glitnir AB (formerly
334:
264:
211:
99:
65:
17:
682:"The government of Iceland acquires 75 percent share in Glitnir Bank"
410:
369:
342:
338:
327:
303:
276:
836:
http://webarchive.loc.gov/all/20070105025826/http://www.glitnir.no/
620:"Government takes control of Glitnir, Iceland's third-largest bank"
30:
880:
319:
159:
846:
https://web.archive.org/web/20070212150200/http://www.glitnir.se/
399:
249:
subsequently merged with FBA Icelandic Investment Bank in 2000.
214:
51:
1303:
List of banks acquired or bankrupted during the Great Recession
1137:
884:
422:
418:
398:
nationalised Glitnir by acquiring a 75% share in the bank for
199:
855:
413:
subsidiary of Glitnir Bank, Glitnir Bank ASA, was sold for
1169:
Dodd–Frank Wall Street Reform and Consumer Protection Act
818:
229:(Industrial Bank) - and one failing publicly held bank -
192:
259:
By 15 October 2009, it was decided that 95% of the new
1280:
National fiscal policy response to the Great Recession
577:
Creditors Acquire 95% of Share Capital in ĂŤslandsbanki
377:
457:
was elected chairman of the board in February 2008.
1425:
1383:
1340:
1311:
1293:
1232:
1207:
1144:
1062:
1009:
973:
918:
421:5.5 billion, but its current worth is estimated at
341:its home markets. Since 2004, Glitnir had acquired
188:
175:
157:
134:
105:
91:
80:
72:
57:
47:
37:
1399:(Europe, Middle East and North Africa, Asia; 2009)
364:Glitnir continued to expand its operations in the
451:was elected chairman of the board in April 2007.
433:and is Central Norway’s largest financial group.
76:Government custodianship, moratorium on payments
644:The Financial Supervisory Authority - Iceland,
1250:American Recovery and Reinvestment Act of 2009
1115:Office of Federal Housing Enterprise Oversight
896:
8:
1174:Emergency Economic Stabilization Act of 2008
279:. A large share of Stodir was controlled by
267:would retain ownership of the remaining 5%.
23:
1308:
1265:Fraud Enforcement and Recovery Act of 2009
1204:
1189:Term Asset-Backed Securities Loan Facility
1134:
903:
889:
881:
585:National and University Library of Iceland
22:
1445:Effects of the Great Recession on museums
1275:Housing and Economic Recovery Act of 2008
1159:China–Japan–South Korea trilateral summit
404:Icelandic Financial Supervisory Authority
1139:Government policy and spending responses
1105:Government National Mortgage Association
517:
515:
513:
1199:2008 United Kingdom bank rescue package
709:. Prime Minister's Office. 2008-09-29.
509:
759:Glitnir ASA in Norway Sold under Value
394:On October 7, 2008, the Government of
1184:Temporary Liquidity Guarantee Program
1154:Banking (Special Provisions) Act 2008
1075:Federal Deposit Insurance Corporation
788:. IceNews. 2007-05-01. Archived from
684:. Glitnir. 2008-09-29. Archived from
7:
1070:Consumer Financial Protection Bureau
417:300 million on October 21, 2008, or
390:2008–2011 Icelandic financial crisis
310:, and had representative offices in
275:A third of the company was owned by
1360:Collateralized mortgage obligations
732:"Iceland nationalises Glitnir bank"
349:), Glitnir Securities (previously
14:
1524:2008 disestablishments in Iceland
1455:2007–2008 world food price crisis
1255:Chinese economic stimulus program
1240:2008 European Union stimulus plan
1164:Commercial Paper Funding Facility
599:New Strong Owners of ĂŤslandsbanki
1483:List of countries by public debt
1110:National Asset Management Agency
467:
143:
142:
29:
1438:2008 Central Asia energy crisis
1355:Collateralized debt obligations
738:from the original on 2008-09-30
713:from the original on 2017-07-07
626:from the original on 2011-06-11
302:. Glitnir operated branches in
1519:1990 establishments in Iceland
1245:2008–2009 Keynesian resurgence
1090:Federal Housing Finance Agency
1085:Federal Housing Administration
786:"New Chairman of Glitnir Bank"
1:
1260:Economic Stimulus Act of 2008
1194:Troubled Asset Relief Program
1120:Office of Financial Stability
1095:Federal Housing Finance Board
1029:Société Générale trading loss
345:and Glitnir bank (previously
1504:Banks disestablished in 2008
1179:Irish emergency budget, 2009
555:Glitnir becomes ĂŤslandsbanki
233:(Fisheries Bank) - to form
1545:
1478:2007–2008 financial crisis
1370:Mortgage-backed securities
981:Automotive industry crisis
856:http://www.glitnirbank.com
387:
111:Þorsteinn Már Baldvinsson
15:
1509:Banks established in 1990
1468:
1375:Secondary mortgage market
1296:rescues, and acquisitions
1294:Government interventions,
1285:Zero interest-rate policy
1133:
996:Housing market correction
653:October 16, 2008, at the
528:. Glitnir. Archived from
455:Þorsteinn Már Baldvinsson
87:(Icelandic business only)
28:
1393:(United States; c. 2009)
1125:UK Financial Investments
1010:Banking losses and fraud
1001:Subprime mortgage crisis
986:California budget crisis
761:(Iceland Review Online)"
734:. BBC News. 2008-09-29.
402:600 million through the
384:Government takes control
68:(traces history to 1904)
1411:(worldwide; 2011–2012)
1350:Auction rate securities
1080:Federal Home Loan Banks
359:Norsk Privatøkonomi ASA
225:(Bank of Commerce) and
1100:Federal Reserve System
974:United States-specific
819:http://www.glitnir.is/
427:Sparebanken Midt-Norge
287:Overview of operations
243:Iceland Stock Exchange
237:in 1990. At the time,
1450:Decline of newspapers
1397:2009 May Day protests
1343:and financial markets
1233:Stimulus and recovery
449:Thorsteinn M. Jonsson
210:was an international
1473:European debt crisis
1365:Credit default swaps
1341:Securities involved
1147:stability and reform
523:"Annual Report 2007"
1433:2000s energy crisis
1145:Banking and finance
1063:Government entities
850:Official Home Page
840:Official Home Page
830:Official Home Page
813:Official Home Page
333:Glitnir considered
200:www.glitnirbank.com
177:Number of employees
25:
1415:Occupy Wall Street
1391:Tea Party protests
1049:Scott W. Rothstein
873:2017-07-29 at the
868:Forbes Global 2000
861:2008-12-02 at the
824:2006-02-16 at the
688:on October 2, 2008
605:2009-12-01 at the
583:2009-11-17 at the
561:2010-04-06 at the
498:SeĂ°labanki ĂŤslands
437:Glitnir management
293:sustainable energy
1491:
1490:
1460:Retail apocalypse
1405:(MENA; 2010–2012)
1336:
1335:
1332:
1331:
1228:
1227:
1208:Bank stress tests
205:
204:
184:
171:
153:
130:
122:
24:Glitnir Banki hf.
1536:
1529:Banks of Iceland
1384:Social responses
1309:
1205:
1135:
905:
898:
891:
882:
853:
843:
833:
816:
801:
800:
798:
797:
782:
776:
775:
773:
772:
763:. Archived from
753:
747:
746:
744:
743:
728:
722:
721:
719:
718:
703:
697:
696:
694:
693:
678:
672:
663:
657:
641:
635:
634:
632:
631:
616:
610:
594:
588:
572:
566:
550:
544:
543:
541:
540:
534:
527:
519:
477:
472:
471:
470:
374:Fischer Partners
366:Nordic countries
351:Norse Securities
197:
182:
169:
162:
151:
146:
145:
124:
123:, Lárus Welding
112:
33:
26:
1544:
1543:
1539:
1538:
1537:
1535:
1534:
1533:
1494:
1493:
1492:
1487:
1464:
1421:
1409:Occupy movement
1379:
1342:
1328:
1307:
1295:
1289:
1224:
1203:
1146:
1140:
1129:
1058:
1005:
969:
914:
912:Great Recession
909:
875:Wayback Machine
863:Wayback Machine
851:
841:
831:
826:Wayback Machine
814:
810:
805:
804:
795:
793:
784:
783:
779:
770:
768:
755:
754:
750:
741:
739:
730:
729:
725:
716:
714:
705:
704:
700:
691:
689:
680:
679:
675:
664:
660:
655:Wayback Machine
642:
638:
629:
627:
618:
617:
613:
607:Wayback Machine
595:
591:
573:
569:
563:Wayback Machine
551:
547:
538:
536:
532:
525:
521:
520:
511:
506:
473:
468:
466:
463:
439:
392:
386:
312:Halifax, Canada
289:
273:
198:
195:
178:
158:
150:27,651 million
139:
108:
21:
12:
11:
5:
1542:
1540:
1532:
1531:
1526:
1521:
1516:
1511:
1506:
1496:
1495:
1489:
1488:
1486:
1485:
1480:
1475:
1469:
1466:
1465:
1463:
1462:
1457:
1452:
1447:
1442:
1441:
1440:
1429:
1427:
1426:Related topics
1423:
1422:
1420:
1419:
1418:
1417:
1406:
1400:
1394:
1387:
1385:
1381:
1380:
1378:
1377:
1372:
1367:
1362:
1357:
1352:
1346:
1344:
1338:
1337:
1334:
1333:
1330:
1329:
1327:
1326:
1324:General Motors
1321:
1315:
1313:
1306:
1305:
1299:
1297:
1291:
1290:
1288:
1287:
1282:
1277:
1272:
1270:Green New Deal
1267:
1262:
1257:
1252:
1247:
1242:
1236:
1234:
1230:
1229:
1226:
1225:
1223:
1222:
1217:
1211:
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1202:
1201:
1196:
1191:
1186:
1181:
1176:
1171:
1166:
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1150:
1148:
1142:
1141:
1138:
1131:
1130:
1128:
1127:
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1117:
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1102:
1097:
1092:
1087:
1082:
1077:
1072:
1066:
1064:
1060:
1059:
1057:
1056:
1054:Allen Stanford
1051:
1046:
1041:
1036:
1031:
1026:
1025:
1024:
1013:
1011:
1007:
1006:
1004:
1003:
998:
993:
991:Housing bubble
988:
983:
977:
975:
971:
970:
968:
967:
962:
961:
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950:
945:
944:
943:
938:
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922:
920:
916:
915:
910:
908:
907:
900:
893:
885:
879:
878:
865:
848:
838:
832:(in Norwegian)
828:
815:(in Icelandic)
809:
808:External links
806:
803:
802:
777:
748:
723:
698:
673:
666:Glitnir Bank,
658:
636:
611:
597:ĂŤslandsbanki,
589:
575:ĂŤslandsbanki,
567:
553:ĂŤslandsbanki,
545:
508:
507:
505:
502:
501:
500:
495:
490:
488:Kaupthing Bank
485:
479:
478:
462:
459:
438:
435:
388:Main article:
385:
382:
300:supply vessels
288:
285:
272:
269:
223:Verzlunarbanki
221:(Union Bank),
203:
202:
196:(in Icelandic)
193:www.glitnir.is
190:
186:
185:
179:
176:
173:
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9:
6:
4:
3:
2:
1541:
1530:
1527:
1525:
1522:
1520:
1517:
1515:
1514:Bank failures
1512:
1510:
1507:
1505:
1502:
1501:
1499:
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1479:
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1187:
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1175:
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1132:
1126:
1123:
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1118:
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1108:
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1098:
1096:
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1088:
1086:
1083:
1081:
1078:
1076:
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1071:
1068:
1067:
1065:
1061:
1055:
1052:
1050:
1047:
1045:
1042:
1040:
1039:Bernie Madoff
1037:
1035:
1034:Forex scandal
1032:
1030:
1027:
1023:
1020:
1019:
1018:
1017:Libor scandal
1015:
1014:
1012:
1008:
1002:
999:
997:
994:
992:
989:
987:
984:
982:
979:
978:
976:
972:
966:
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959:
956:
955:
954:
951:
949:
946:
942:
941:South America
939:
937:
936:United States
934:
933:
932:
929:
927:
924:
923:
921:
917:
913:
906:
901:
899:
894:
892:
887:
886:
883:
876:
872:
869:
866:
864:
860:
857:
849:
847:
839:
837:
829:
827:
823:
820:
812:
811:
807:
792:on 2008-10-03
791:
787:
781:
778:
767:on 2011-06-05
766:
762:
760:
752:
749:
737:
733:
727:
724:
712:
708:
702:
699:
687:
683:
677:
674:
671:
669:
662:
659:
656:
652:
649:
647:
640:
637:
625:
621:
615:
612:
609:(15 Oct 2009)
608:
604:
601:
600:
593:
590:
587:(15 Oct 2009)
586:
582:
579:
578:
571:
568:
565:(20 Feb 2009)
564:
560:
557:
556:
549:
546:
535:on 2015-04-03
531:
524:
518:
516:
514:
510:
503:
499:
496:
494:
491:
489:
486:
484:
481:
480:
476:
465:
460:
458:
456:
452:
450:
446:
443:
442:Lárus Welding
436:
434:
432:
428:
424:
420:
416:
412:
407:
405:
401:
397:
391:
383:
381:
379:
375:
371:
367:
362:
360:
356:
352:
348:
347:Kredittbanken
344:
340:
336:
331:
329:
325:
321:
317:
313:
309:
305:
301:
298:
294:
286:
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79:
75:
71:
67:
63:
60:
56:
53:
50:
46:
43:
40:
36:
32:
27:
19:
852:(in English)
842:(in Swedish)
794:. Retrieved
790:the original
780:
769:. Retrieved
765:the original
758:
751:
740:. Retrieved
726:
715:. Retrieved
701:
690:. Retrieved
686:the original
676:
670:(08.10.2008)
667:
661:
648:(08.10.2008)
645:
639:
628:. Retrieved
614:
598:
592:
576:
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483:ĂŤslandsbanki
475:Banks portal
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235:ĂŤslandsbanki
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227:IĂ°naĂ°arbanki
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160:Total assets
92:Headquarters
38:Company type
1403:Arab Spring
1312:Non-banking
1044:Tom Petters
245:, in 1993.
231:Ăštvegsbanki
219:Alþýðubanki
85:Nýi Glitnir
1498:Categories
796:2008-09-30
771:2010-01-21
742:2008-09-30
717:2008-09-30
692:2008-09-30
630:2010-04-06
539:2008-05-08
504:References
493:Landsbanki
324:Luxembourg
308:Copenhagen
165:ISK 2,948
137:Net income
107:Key people
1022:Tom Hayes
919:By region
431:Trondheim
411:Norwegian
271:Ownership
212:Icelandic
96:ReykjavĂk
81:Successor
62:ReykjavĂk
1319:Chrysler
931:Americas
871:Archived
859:Archived
822:Archived
736:Archived
711:Archived
651:Archived
624:Archived
603:Archived
581:Archived
559:Archived
461:See also
355:FactoNor
316:Shanghai
297:offshore
115:Chairman
48:Industry
965:Oceania
958:Iceland
396:Iceland
335:Iceland
314:and in
265:Iceland
208:Glitnir
189:Website
167:billion
117:of the
100:Iceland
66:Iceland
58:Founded
52:Banking
42:Private
18:Glitnir
953:Europe
926:Africa
877:(2007)
370:Sweden
343:BNbank
339:Norway
328:Norway
304:London
295:, and
277:Stodir
183:(2007)
181:1,980
170:(2007)
152:(2007)
533:(PDF)
526:(PDF)
368:. In
320:China
119:board
1220:U.S.
948:Asia
409:The
337:and
306:and
215:bank
73:Fate
423:ISK
419:ISK
415:NOK
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148:ISK
127:CEO
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