Kvika Securities Ltd.

Board of Directors

Armann Thorvaldsson

Chairman

Mr. Thorvaldsson joined the Board in February 2018. He has worked in the financial markets for over twenty years and is currently the Deputy CEO of Kvika banki. Before that he was the CEO of the bank. From 1997 until 2005 Mr. Thorvaldsson 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

Board Member

Mr. Smalley joined the Board in November 2020. 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, and been Chairman of Leon Restaurants Ltd until its sale in 2021.

Magnus Ingi Einarsson

Board Member

Mr. Einarsson joined the Board in January 2020. He has over fifteen years' experience in the financial markets and is currently the Managing Director of Banking at Kvika banki. 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 banki.