CEO and the Executive Committee

The Chief Executive Officer (CEO) is responsible for the day-to-day operations of the Bank pursuant to set policies and resolutions of the Board.

CEO and the Executive Committee

The Chief Executive Officer (CEO) is responsible for the day-to-day operations of the Bank pursuant to set policies and resolutions of the Board. The CEO is also to ensure that the Bank’s operations are in compliance with applicable law and the Bank’s Articles of Association at all times. 

The CEO hires the Bank‘s Compliance Officer and appoints members of the Executive Committee and other Senior Management Committees.

Together with the CEO, the Executive Committee manages the daily activities of the Bank according to the strategy set out by the Board. It consists of eight people, including the CEO.

Jón Guðni Ómarsson

Chief Executive Officer since June 2023

Jón Gudni has served as Chief Financial Officer of the Bank since 2011. He will continue as such until year end 2023. Jón Gudni was Head of Treasury at the Bank from 2008 -2011. He has had various other roles within the Bank and its predecessors, including advising customers on hedging strategies and leading arrangements and participations in syndicated loans. He also worked as an ALM consultant at SunGard in Boston.

Jón Gudni holds a B.Sc. degree in Industrial Engineering and an M.Sc. degree in Quantitative and Computational Finance (QCF) from Georgia Institute of Technology in Atlanta. Jón Gudni has an AMP from Harvard Business School. Jón Gudni is a Chartered Financial Analyst (CFA) and a security broker licensed by the Icelandic Ministry of Finance and Economic Affairs.

Jón Gudni has been with Íslandsbanki and its predecessors since 2000.

Ellert Hlöðversson

Chief Financial Officer from January 2024

Ellert has extensive experience in the financial markets and has been with Íslandsbanki since 2010, most recently as Executive Director of the Bank’s Corporate Finance. Prior to that he served as Executive Director of Íslandsbanki’s Securities Brokerage and a director within the Bank’s Corporate Finance team, where he led many of the largest advisory roles which the Bank engaged in, including mergers and integration of companies as well as various kinds of financing transactions.

Ellert holds a B.Sc degree in Electrical Engineering and M.Sc degree in Financial Engineering from the University of Iceland and is a security broker licensed by the Icelandic Ministry of Finance and Economic Affairs.

Ellert has been with Íslandsbanki since 2010.

Barbara Inga Albertsdóttir

Chief Compliance Officer since November 2023

Barbara Inga previously served as Global Head of Regulatory Change at Deutsche Bank, where she was responsible for managing regulatory changes where the focus was on analysing the opportunities the changes would have on the bank's operations. Barbara has also worked for Wells Fargo and both the UK Financial Conduct Authority as well as the Financial Supervisory Authority in Iceland. Barbara has i.a. worked on transformation management within Íslandsbanki.

Barbara has a Bachelor’s degree and a M.L. degree in Law from the University of Iceland and an LL.M in International Financial Law from King’s College London.

Guðmundur Kristinn Birgisson

Chief Risk Officer since October 2018

Guðmundur joined Íslandsbanki in 2011 as Executive Director of Risk Monitoring where he oversaw the implementation of the Bank´s Operational Risk Management Framework and monitoring of the execution of credit processes. 

From 2017 until he was appointed CRO, Guðmundur served as Executive Director of Lending in the Bank´s Personal Banking Division.

Guðmundur has a wide range of professional experience and has for example served as Assistant Professor of Mathematics Education and Dean of Undergraduate Studies at the Iceland University of Education.

Guðmundur holds a Ph.D. degree in Mathematics Education from Indiana University and a B.A. in Philosophy and Science from the University of Iceland.

Guðmundur has been with Íslandsbanki since 2011.

Kristín Hrönn Guðmundsdóttir

Managing Director of Corporate and Investment Banking since July 2023

Kristín Hrönn has over 20 years‘ experience as a manager in financial markets. Kristín Hrönn led the Sales and Services team within CIB from 2013 to 2019 when she assumed the role of Executive Director of Finance, Operations and Strategic planning within CIB. She has further served as a member of the Bank´s Credit Committees, Asset and Liability Committee and Investment Council. Kristín Hrönn has wide-ranging experience in Leveraged and Structured Finance and Private Equity both locally and in the London market.

Kristin Hrönn holds a Bachelor‘s degree in Economics from the University of Iceland, has completed an AMP Management Programme from IESE Business School in Barcelona and is a Securities Broker licensed by the Icelandic Ministry of Finance and Economic Affairs.

Kristin Hrönn has been with Íslandsbanki since 2008.

Riaan Dreyer

Managing Director of Digital and Data since September 2019

Riaan has been in various Chief Information Officer roles in South Africa, most notably Standard Bank and Liberty Life, before he relocated to Iceland in 2016.  He then joined Meniga within the Engineering space after which he joined Arion as the Head of Development.

Riaan holds a Masters degree in Information Technology from the University of Pretoria, South Africa in addition to Bachelor degrees in Actuarial Science and Economics. He has also completed the Advanced Management Programme from IESE, Barcelona.

Riaan has been with Íslandsbanki since 2019.

Una Steinsdóttir

Managing Director of Business Banking since May 2017

Una joined Íslandsbanki in 1991 and has a broad background from varied divisions within the Bank. Una was Managing Director of a combined Commercial Banking division from October 2008 until May 2017, Managing Director of the Bank’s branch network from 2007 - 2008, and Keflavík Branch Manager from 1999. Prior to that she held various positions in the Bank’s International Banking division, loan supervision and service management. 

Una holds a Cand. Oecon. degree in Business Administration from the University of Iceland and has completed an AMP management programme from IESE, Barcelona.

Una has been with with Íslandsbanki and its predecessors since 1991.

Ólöf Jónsdóttir

Managing Director of Personal Banking since February 2024

Ólöf has extensive experience in the financial markets. She was Managing Director of Commercial Banking at Kvika banki hf. and also held various different management positions within Kvika banki and led the innovation and development of fintech solutions there. Prior to that she worked for Auður Capital and Virðing from 2008 until its merger with Kvika banki.

Ólöf has a B.Sc. in mechanical- and industrial engineering from the University of Iceland and an M.Sc. in Operations Research and Analytics from London School of Economics. Ólöf is a Securities Broker licensed by the Icelandic Ministry of Finance and Economic Affairs.

Ólöf joined Íslandsbanki in 2024.

Senior Management Committees

Senior Management Committees are advisory committees appointed by the CEO. The CEO’s advisory committees fall into two categories: Policy-Setting Committees, which implement Board policies, and Business Committees, which take a position on specific business matters.

The Executive Committee and the All Risk Committee are considered Policy-Setting Committees, and they take major decisions on the implementation of the policies set by the Board. Committee members include all of the Bank’s Managing Directors, in addition to other managers appointed by the CEO.

  • The Executive Committee, oversees and coordinates key aspects of the Bank’s activities and has decision-making authority in matters assigned to it by the CEO, in accordance with policies, goals, and risk appetite as defined by the Board.
  • The All Risk Committee takes major decisions on implementation of the Bank’s risk management and internal audit frameworks and conducts oversight to ensure that the Bank’s risk profile is within the limits defined in the Board’s risk appetite statement.

The Bank’s Business Committees take decisions on individual business and operational matters in accordance with policy documents, rules, and other guidelines approved by the Board, Executive Committee or All Risk Committee. The Bank’s Business Committees are:

  • The Senior Credit Committee decides on proposals on lending and is the formal venue for discussion and review of individual loan proposals.
  • The Asset and Liability Committee decides on proposals regarding market risk, liquidity risk, funding, capital and internal and external pricing.
  • The Investment Committee decides on proposals regarding the purchase, sale and valuation of equity stakes and other investments of the bank.
  • The Operational and Security Committee decides on proposals regarding new products and services, continuous operation and material changes in systems and procedures.
  • The Sustainability Committee is a formal forum for reviewing and discussing issues related to sustainability risk, sustainable procurement and business opportunities.
  • The Digital Product Committee is a formal forum for prioritisation of initiatives between product teams in line with the strategy and goals of the Bank.