Board of Directors

Armann Thorvaldsson

Mr. Thorvaldsson has an MBA degree from Boston University and a BA degree in history from the University of Iceland. He has been the Deputy CEO of Kvika banki since May 2019 but before that he was the CEO of the Bank. Mr. Thorvaldsson has worked in the financial markets for over twenty years. From 1997 until 2005 he was Head of Corporate Finance at Kaupthing and in 2005 until 2008 he was CEO of Kaupthing Singer & Friedlander in London. Later Mr. Thorvaldsson worked at Ortus Secured Finance in London until 2015 when he joined Virding where he headed up it's Corporate Finance division before becoming the CEO of Kvika in June 2017.

Timothy Smalley

Mr. Smalley has an LLB (Hons) Law degree from Birmingham University. He worked for National Westminster Bank (now part of the NatWest Group) and Abbey National (now part of the Santander Group) for a period of 14 years, from 1989-2003, and a large part of that time in real estate financing, incl. as head of Real Estate Finance at Abbey National Treasury Services PLC. In the years 2003-2016 Mr. Smalley worked for an investment company (R20) and in recent years he has managed the investment companies Bluemoon Investments and Stondon Capital, that participate in various types of investment and loan projects.

Magnus Ingi Einarsson

Mr. Einarsson holds a B.Sc. degree in Mechanical Engineering from the University of Iceland and an M.Sc. degree in Mechanical Engineering from Virginia Polytechnic and State University. He has over ten years' experience in the financial markets. Mr. Einarsson joined Risk Management at Kvika banki (then Straumur-Burdaras) in 2006 and headed the Bank's credit risk from 2009. He was Head of Risk Management and later Head of Treasury at Straumur Investment Bank from the bank's establishment until the end of 2014 when he became Managing Director of Finance and Operations at Kvika. In July 2019 Mr. Einarsson took the role of Managing Director of Banking at Kvika.