REYKJAVIK & LONDON - Stephen Jack, Chief Financial Officer of Straumur-Burdaras Investment Bank (“Straumur”) is extending his role to include full management responsibility for Treasury, including Investor Relations. His appointment to this position follows the resignation of Svanhildur Nanna Vigfúsdóttir, who had been Head of Treasury since 2005. William Fall, Chief Executive Officer of Straumur commented: “We are delighted that Stephen has agreed to extend his CFO brief to lead our Treasury division. Straumur's business model has changed dramatically in the past twelve months and having an integrated approach to our financial divisions is key to generating long-term shareholder value. We are determined to broaden ownership of Straumur's stock into the international markets and establish equity research coverage by international brokerages. Stephen has the experience and qualities necessary to help us achieve these targets. We would like to thank Svanhildur Nanna Vigfúsdóttir for her work for the Bank and we wish her all the best in the future.” Between 2004 and 2006, Jack was Group Finance Director of Collins Stewart Tullett plc. Before that he spent three years as CFO at Tullett & Tokyo Liberty plc and two years as Global CFO at ING Barings. Prior to that, Jack had a 13 year career at Dresdner Kleinwort Benson where he held a number of senior finance positions. For further information, please contact: Georg Andersen (georg@straumur.net) Director of Investor Relations +354 585 6707.
- Stephen Jack assumes management responsibility for Straumur's Treasury Division
| Source: Straumur-Burðarás Fjárfestingabanki hf.