Ármann Þorvaldsson
Ármann Þorvaldsson | |
|---|---|
| Born | 1968 Reykjavík, Iceland |
| Occupation(s) | Banker, former badminton athlete |
| Years active | 1988–present |
| Known for | CEO of Kaupthing Bank UK during 2008 financial crisis; Icelandic National Badminton Championships winner |
Ármann Þorvaldsson (born in Reykjavík, 1968) is a former badminton athlete from Iceland who also served as the UK CEO of Kaupthing Bank at the time of its 2008 financial failure.
Early life
After completing his studies at Fjölbrautaskólinn í Breiðholti in 1989, Ármann obtained a Bachelor of Arts degree in history from the University of Iceland in 1992. He further advanced his education by earning an MBA from Boston University in 1994. Ármann is married to Þórdís Edwald, with whom he shared international badminton competition experience.
Banking career
Beginning his tenure at the Icelandic institution Kaupthing in 1994 as Director of Planning and Budgeting, Ármann progressed to become managing director of investment banking between 1997 and 2005. In July 2005, he was appointed director of Kaupthing Singer & Friedlander Group PLC and elevated to CEO by October that year.
In the aftermath of Kaupthing’s downfall, Ármann published a personal memoir defending the actions taken by himself and his associates during Iceland’s financial expansion and the crisis spanning 2008 to 2011.
Although investigated by the UK's Serious Fraud Office, no charges were brought against him. Additionally, the Financial Services Authority in the UK determined that he did not violate any regulatory standards.
In June 2017, Ármann took on the role of CEO at Kvika banki, later moving into the position of deputy CEO as of May 2019.
Badminton career
Ármann claimed victory in the men's doubles category at the Icelandic National Badminton Championships in both 1988 and 1989. He also triumphed at the Iceland International tournament in 1991 alongside partner Þorsteinn Páll Hængsson.