SOURCE: Glitnir

May 14, 2007 11:08 ET

Glitnir Bank Lunch Presentation in New York, USA: The Nordic Bank Glitnir Plans to Open Its New York Office During the Fall

NEW YORK, NY -- (MARKET WIRE) -- May 14, 2007 -- Bjarni Ármannsson, who is resigning as CEO of Glitnir, will present Glitnir's first quarter results for 2007 in New York. Lárus Welding, Glitnir's new CEO will participate together with Bjarni Ármannsson. For more information about Glitnir:

Date:                Tuesday 15 May
Time:                12 PM
Place:               Scandinavian House
Address:             Volvo Hall, 58 Park Avenue (btw 37th and 38th
                     Str.), New York, NY 10016.
Participants:        Please register with Vala Pálsdóttir, Head of
                     Investor Relations, by e-mail at
                     or call +354 440 4989.
About Glitnir

The financial group Glitnir offers universal banking and is a leading niche player in three global segments; seafood/food, sustainable energy, and offshore services vessels. Glitnir considers Iceland and Norway its home markets. Services include retail, corporate and investment banking, stock trade and capital management. Glitnir is the sole owner of a bank in Luxembourg (Glitnir Bank Luxembourg S.A) and banks and financial services companies in Norway (BNbank, Glitnir Bank ASA, Glitnir Securities, Glitnir Factoring and Glitnir Property Holding (with partners). Glitnir's subsidiary BNbank owns 45 percent of the shares in Norsk Privatøkonomi ASA, an independent financial advisory company with 14 branches in key areas of Norway). In Sweden, Glitnir owns the leading Swedish brokerage firm Glitnir AB. Glitnir Property Group recently acquired 91 percent of the shares in Leimdörfer AB, the leading commercial real estate advisor in Sweden. The group also recently acquired 68.1 percent of the shares in the leading Finnish asset management company FIM, with operations around Finland and in Stockholm and Moscow. (Glitnir has made a tender offer for all shares in FIM). Glitnir operates branches in London and Copenhagen. The group has representative offices in Halifax, Canada and Shanghai, China, and plans to open an office in New York in 2007. Glitnir is listed on the Icelandic Stock Exchange. For more information:

Glitnir is now a strong player in the Nordic investment management and securities market. The recent acquisition of the majority of the shares in FIM in Finland provides Glitnir with a very strong equity asset management expertise, and also with exceptionally strong niche expertise in the emerging markets - the area where the strongest global growth takes place. Based on statistics published by OMX and Oslo Stock Exchange, Glitnir is the second largest equity broker in the Nordic countries in terms of market turnover*, with operations in five countries; Iceland, Norway, Sweden, Finland and Russia (the latter two as a result of the recent acquisition of FIM). Glitnir has increased its market share substantially in the past year, from 0.8% Q1 2006 to 6.05% Q1 2007. The strong increase is a result of both organic growth and the acquisitions of Norse Securities (now Glitnir Securities), Fischer Partners (now Glitnir AB) and FIM Group (tender offer closing 16 May). The combined market share for Glitnir and FIM during the first three months of 2007 was 26% in Iceland, 6.66% in Finland, 6.28% in Sweden, 5.63% in Norway and 3.24% in Denmark.

Market share Equity Trading Nordics Q1
Skandinaviska Enskilda Banken AB       7.53 %
Glitnir/FIM                            6.05 %
Morgan Stanley & Co. International LTD 5.99 %
Carnegie Investment Bank AB            5.83 %
Svenska Handelsbanken AB               4.44 %

Best regards,
Bjørn Richard Johansen, e-mail:
Managing Director, Corporate Communication
Copyright © Hugin ASA 2007. All rights reserved.

Contact Information

  • Contact:
    Bjørn Richard Johansen
    Managing Director, Corporate Communication