Board of Directors

MONICA CANEMAN
Chairman

Monica was born in 1954. She is Swedish and lives in Sweden. She was first elected as a Director at a shareholders’ meeting on 18 March 2010. She is not a shareholder of Arion Bank and is an independent Director. Monica is Chairman of the Board Credit Committee. She graduated with a BSc in business and economics from the Stockholm School of Economics in 1976. Monica currently serves on the boards of numerous companies and non-profit organizations and is the chairman of several of them.

Monica previously worked at Skandinaviska Enskilda Banken (now SEB) where she held various positions in marketing and commercial banking, i.e. a member of the Group Executive Committee, Group Management and deputy CEO and became an alternate member of the board of directors at the same time. Since 2001 Monica has built a career around board assignments.

GUDRÚN JOHNSEN
Vice Chairman

Gudrún was born in 1973. She was first elected as a Director at a shareholders’ meeting on 18 March 2010. She is not a shareholder of Arion Bank and is an independent Director. Gudrún is Chairman of the Board Remuneration Committee and a member of the Board Risk Committee. Gudrún completed an MA in applied economics at the University of Michigan, Ann Arbor in the United States in 2002 and gained an MA in statistics from the same university the following year. She graduated with a BA in economics from the University of Iceland in 1999. Gudrún is currently a lecturer in finance at the faculty of business administration at the University of Iceland.

Gudrún has previously worked as a securities broker, specialist in the Financial Systems Department of the International Monetary Fund (IMF) in Washington DC, senior researcher for the Parliamentary Special Investigation Commission looking into the causes and events leading up to the fall of the Icelandic banking system in 2008 and as an assistant professor at Reykjavík University. She has served on the board of a fund management company of MP Bank hf. and is the current chairman of the research and development company THOR ehf.

BENEDIKT OLGEIRSSON

Benedikt was born in 1961. He was first elected as a Director at a shareholders’ meeting on 18 December 2013. He is not a shareholder of Arion Bank and is an independent Director. Benedikt is a member of the Board Risk Committee and the Board Credit Committee. He gained an MSc in construction engineering and project management at the University of Washington in Seattle in 1987. Benedikt completed a degree in civil engineering from the University of Iceland in 1986. Benedikt is currently the managing director of corporate development at Landspítali University Hospital.

Benedikt has previously worked as managing director of Atorka hf., managing director of Parlogis ehf. and served as Deputy CEO of Landspítali University Hospital. He was also a manager at Eimskip hf. and has worked as a project manager in civil engineering. Benedikt has served as board director at several companies such as Promens hf., Icepharma hf. which he chaired, Parlogis ehf. and InterBulk Group, which is listed on the London Stock Exchange.

BRYNJÓLFUR BJARNASON

Brynjólfur was born in 1946. He was first elected as a Director at a shareholders’ meeting on 20 November 2014. He is not a shareholder of Arion Bank and is an independent Director. Brynjólfur is Chairman of the Board Audit Committee and a member of the Board Credit Committee. Brynjólfur graduated with an MBA from the University of Minnesota in 1973 and a cand. oecon. degree in business studies from the University of Iceland in 1971. Brynjólfur currently serves on several boards.

Brynjólfur previously worked as the managing director of the Enterprise Investment Fund and as the CEO of Skipti, Síminn and Grandi hf. He has also worked as managing director of the publisher AB bókaútgáfa and was head of the economics department of VSÍ. Brynjólfur has broad experience as a director and has served on numerous boards and been chairman of several.

JOHN P. MADDEN

John P. Madden was born in 1973. John is a dual US and British citizen and he lives in the United Kingdom. He was first elected as a Director at a shareholders’ meeting on 15 September 2016. He is not a shareholder of Arion Bank and is a dependent Director. He gained a BA in political economy from Williams College in Massachusetts in 1996. John is a managing director at Kaupthing ehf., which is the majority shareholder of Arion Bank through its subsidiary Kaupskil ehf. He has also worked at BC Partners, Arle, ICG since 2014.

Previously John worked at Arcapita, first in the United States, then in the United Kingdom. Prior to that he was at Lehman Brothers, New York. John is currently on the board of directors at Fairhold Securitisation Limited and Noreco.

KIRSTÍN Þ. FLYGENRING

Kirstín was born in 1955. She was first elected to the Board as an Alternate at a shareholders’ meeting on 22 March 2012. She was elected to the Board as a Director at the Bank’s annual general meeting on 20 March 2014. She is not a shareholder of Arion Bank and is an independent Director. Kirstín is a member of the Board Audit Committee and the Board Remuneration Committee. Kirstín completed an MA in economics from Northwestern University in Illinois in 1983. In 1980 she graduated with a cand. oecon. degree from the University of Iceland. She has completed a course in practical media studies at the University of Iceland and gained a diploma in European competition law from Kings College London. Kirstín currently works as an independent consultant.

Kirstín has previously served as a member of the Icelandic parliament’s investigative committee on the Housing Financing Fund and has worked as a part-time lecturer and adjunct at the University of Iceland, specialist at the Institute for Research in Finance and Economics at Reykjavík University and as an economist at the National Economic Institute, the Department of Economics at the Central Bank of Iceland, and for the OECD. Kirstín has also held several positions on boards and committees and was, for example, the chairman of the Competition Committee, a board member of Midengi ehf. and has served on the Post and Telecommunications Arbitration Committee since 2008.

MÅNS HÖGLUND

Måns was born in 1951. He is Swedish and lives in Portugal. He was first elected as a Director at Arion Bank’s Annual General Meeting on 24 March 2011. He is not a shareholder of Arion Bank and is an independent Director. Måns is Chairman of the Board Risk Committee and a member of the Board Credit Committee. He graduated with a BSc in business and economics from the Stockholm School of Economics in 1975.

Måns previously worked for Swedish Export Credit Corporation (SEK) as executive director and head of corporate and structured finance and was a member of SEK’s Executive Committee. He has worked for Unibank as head of the Sweden operation and Nordea as Head of Private Banking, Sweden as well as Swedbank where his roles included being head of the corporate division. Måns worked at Götabanken in London and Stockholm where he was head of the international finance Board of Directors and Corporate governance division and was regional director for Iceland and Denmark Hambros Bank in London. Måns has also worked as a lecturer and researcher at the Stockholm School of Economics.

THÓRA HALLGRÍMSDÓTTIR

Thóra was born in 1974. She was first elected as an Alternate Director at a shareholders’ meeting on 24 March 2011. She was elected as a Director at a shareholders’ meeting on 21 March 2013. She is not a shareholder of Arion Bank and is an independent Director. Thóra is a member of the Board Audit Committee and the Board Remuneration Committee. Thóra completed an MA in law at the University of Iceland in 2000 and qualified as an attorney to the district court in 2002. Since 2011 she has worked as a specialist in the faculty of law at Reykjavík University in insurance law, contract law and law of tort.

Before that Thóra worked as a lawyer for two Icelandic insurance companies: Tryggingamidstödin hf. and Sjóvá-Almennar tryggingar hf. Thóra is currently a board member of the rehabilitation fund Virk-Starfsendurhæfingarsjódur ses. and the Association of Icelandic Lawyers and is the CEO for the Icelandic Law Journal (Tímarit Lögfraedinga). Thóra serves as chairman of the insurance complaints committee and chairman of the seamen and fishermen’s arbitration committee.

Alternate directors:

Björg Arnardóttir, business studies graduate, Sigurbjörg Ásta Jónsdóttir, lawyer and Ólafur Örn Svansson, Supreme Court attorney.