Glacier Securities acquires Broker Dealer license in the USA

30.03.2011

Over the past months, Glacier Securities, a subsidiary of Íslandsbanki, has undergone the application process with the US financial regulator FINRA, to obtain an operational licence in the US. The bank has put considerable planning and preparation into the establishment of this important subsidiary, efforts that will bear fruit once the offices open next month. Glacier Securities will mainly operate as an M & A advisor to companies in the geothermal and the seafood industries and will capitalise on the strong track record that Íslandsbanki and its predecessors built for itself in the sectors. Furthermore, Glacier Securities will work with Icelandic companies operating in these sectors who are looking for opportunities in the USA.

Árni Magnusson, Head of International Operations, Íslandsbanki:

„The vast experience and specialist knowledge that we have in geothermal energy and seafood is sought after by US companies, and we strongly believe that we can use that knowledge to provide not only an important service to our customers, but also meaningful revenues for landsbanki. We have high hopes to be an ever more important player in this field in the USA, initially as an advisor to companies working in these sectors. By acquiring BD - license for Glacier Securities, we have made the first step in realising that ambition."

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