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Straumur Investment Bank hf.

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Straumur Investment Bank hf.

Overview:

Straumur is an independent investment bank and the only investment bank in Iceland. The bank offers a comprehensive range of investment banking services, including brokerage services and corporate finance advice. Straumur has extensive experience and in-depth knowledge of the domestic market with access to investors in Iceland, Europe and the US.

History:

Straumur's history goes back to 1986 when it was established as an equity fund. The fund grew in size and became an Investment bank in 2004. Upon the merger with Burdaras, the bank became the largest investment bank in Iceland.

Although the bank initially survived the financial turmoil in late 2008, FME assumed control of Straumur and appointed a Resolution Committee under the Emergency Act on 9 March 2009, Straumur was closed for business and entered into a Moratorium on 19 March 2009. Following a restructuring process in close partnership with an Informal Creditor Committee, the company achieved a successful composition and is now under new ownership.

The restructuring and the establishment of the bank is a unique event in the Icelandic financial environment. Straumur is a new investment bank with a new investment banking license and has no government involvement. ALMC entered into a service agreement with the bank whereby Straumur provides services in the area of middle office, back office, IT and finance.

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