Armann Thorvaldsson has been engaged as CEO of Kvika banki hf. and Marinó Örn Tryggvason as the bank's deputy CEO.

Since 2015 Mr. Thorvaldsson has worked for Virðing, most recently as managing director of Corporate Finance. Prior to that he was managing director of Kaupthing's Corporate Finance division from 1997 to 2005, then managing director of Kaupthing Singer & Friedlander UK from 2005 to 2008.  Before commencing work at Virðing, Mr. Thorvaldsson was managing director of the real estate mortgage company Ortus Secured Finance in London. He holds a BA degree in history from the University of Iceland and graduated with an MBA from Boston University in 1994.

Marinó Örn Tryggvason worked in Asset Management at Arion Bank and its predecessors from 2002, most recently as deputy managing director of Asset Management since 2014. He was a member of the board of directors of the insurance company Vörður from 2016 to 2017. Mr. Tryggvason holds a B.Sc. in Business from the University of Iceland and is a certified broker. 

Mr. Thorvaldsson will commence work at Kvika on 15 June this year and Mr. Tryggvason on 1 August. In the interim until Mr. Thorvaldsson takes over the reins, Magnús Ingi Einarsson, managing director of Finance and Operations at Kvika, will serve as acting CEO.

Mr. Einarsson has worked at Kvika and the bank's predecessors since 2006, when he began work in risk management. Until 2014 he served as head of Credit Risk, Risk Management and Treasury, and since that time he has served as managing director of Finance and Operations. Mr. Einarsson holds a BSc in mechanical engineering from the University of Iceland and an MSc in mechanical engineering from Virginia Tech in the US.