Íslandsbanki strengthens securities brokerage activities

The Bank has merged its securities brokerage and securities advisory services units to form a single department.


Ellert Hlöðversson has been hired to head Íslandsbanki’s new Securities Brokerage department. The Bank has merged its securities brokerage and securities advisory services units to form a single department with the aim of further strengthening the Bank’s position in the securities market. In the past, the Bank’s securities brokerage staff have focused on the needs of institutional investors in the market, whereas the securities advisory staff have concentrated on retail investors’ needs. Merging the two creates the opportunity for the Bank to strengthen its presence in securities trading still further. In the first six months of 2022, Íslandsbanki was the market leader in equity securities turnover on the Nasdaq Iceland exchange and ranked second in bond market turnover. Ingvar Arnarson, who has headed securities brokerage at the Bank hitherto, will stay on as part of the merged team. 

Ellert Hlöðversson was previously project manager for Íslandsbanki Corporate Finance and has wide-ranging experience of work in the financial market. He has led numerous companies’ stock offerings and market listings and has participated in most of the corporate bond issues managed by the Bank in recent years. Ellert has a M.Sc. in Engineering from the University of Iceland and has been employed by Íslandsbanki for 12 years.