Following the recent appointment of William Fall as CEO, Straumur-Burdaras
Investment Bank (“Straumur” or the “Bank”) announces its strategic direction
and targets for 2010.
Straumur today sets out its vision of being the leading investment bank in
Northern and Central Europe. In reaching this vision, its strategy is to be
the preferred provider of a broad range of products and services to
capital-raising clients (especially SMEs) and local and international
investors.
The Bank also announces some key targets in order to deliver on its strategy.
The new targets reflect the proven financial and operating strengths that
Straumur has achieved as well as a strategic focus on profitable growth and
further product and geographical diversity.
These targets take into account the three stakeholder perspectives of the Bank:
its clients, its shareholders and its people.
Key Targets:
• Revenues to exceed EUR 1,250 million by 2010
• Long term ROE target in excess of 20% by 2010
• Balance Sheet to exceed EUR 14,000 million by 2010
• Assets under Management to exceed EUR10,000 million by 2010
• Long term goal for client-driven revenues to be 75% of total revenues by 2010
• Introduction of consistent firm-wide compensation and performance
programme,incorporating a new share option scheme across the Bank by
2008
• Diversity target of women to be more than 40% of total work force by 2008
William Fall, CEO of Straumur, commented:
“This strategic update is the result of a 90-day review process which has
involved all senior management and divisional heads of the Bank. Having
delivered on our previous growth and profitability targets, our revised targets
indicate our continued focus on ensuring we deliver for all our stakeholders.
We have now set out a clear strategic direction for the Bank and look forward
to continuing to deliver on our objectives.”
For further information, please contact:
Haukur Hauksson, Director of Investor Relations
haukur.hauksson@straumur.net
+354-858-6744
Johanna Vigdis Gudmundsdottir, Director of Corporate Communications
johanna@straumur.net
+354 840 9133
Rhiannedd Brooke, Head of international media relations
rhiannedd.brooke@straumur.net
+44 7903 419 770
Notes to Editors
About Straumur
Straumur provides extensive financial services to small and medium-sized
companies in northern and central Europe.
The Bank's integrated approach provides our clients with a unique value
proposition tailored to enhancing the growth of their businesses. Our goal is
to become the leading northern and central European investment bank, balancing
strong profitable growth with geographical and operational diversity.
