Straumur Investment Bank


Straumur Investment Bank

Infobox_Company
company_name = Straumur-Burðarás Investment Bank hf.
company_
company_type = Public (OMX|ICE5452|STRB)
foundation = Reykjavík, Iceland, 1986 (foundation of "Hlutabréfasjóðurinn hf.")
location = Reykjavík, Iceland
key_people = William Fall (CEO), Björgólfur Thor Björgólfsson (Chairman of the board)
industry = Banking
net_income = profit €163 million (2007)cite web |url=http://www.straumur.net/upload/annualreport2007/index.html |title=Annual Report 2007 |publisher=Straumur |accessdate=2008-05-08]
assets = €7.137 billion (2007)
num_employees = 490 (2007)
homepage = [http://www.straumur.com/ www.straumur.com]
intl = yes

Straumur-Burdaras Investment Bank hf. ( _is. Straumur-Burðarás Fjárfestingabanki, usually referred to simply as Straumur) (OMX|ICE5452|STRB) is a pan-regional investment bank headquartered in Reykjavik, Iceland.

Straumur is Iceland‘s largest pure investment bank and the sixth-largest company on the OMX Nordic Exchange in Iceland. Through organic growth and strategic acquisitions, Straumur has an established presence in ten countries including the UK, Denmark, Sweden, Finland and the Czech Republic.

Straumur has a market capitalisation of €1.71 billion, total assets of €7.14 billion at the end of 2007 and a long-term investment rating of BBB- from Fitch. [ [http://www.straumur.net/upload/Straumur_Q407-MarketPresentation.pdf Straumur 2007 Results Presentation] ] A broad footprint enables the bank to balance strong profitable growth with geographical and operational diversity.

History

Straumur was founded in October 1986 as the Equity Fund (Hlutabréfasjóðurinn hf.) – an incentive for individuals in Iceland to invest in shares – and by 2001 it had become an investment company.

Over the next few years, the fund grew rapidly and was merged with a number of other Icelandic investment funds. In 2004, the Icelandic Financial Supervisory Authority approved Straumur's application for a license to operate as a credit undertaking and three more sources of income – brokerage, debt finance and corporate finance – were added to create a more regular flow of income.

In September 2005, Straumur merged with Burdarás creating Iceland’s largest investment bank. The newly merged organisation had a stronger balance sheet and shareholder base and was well positioned to start expanding its activities beyond Iceland.

Strategic acquisitions

July 2006 – Straumur acquired 50.01% share of Stamford Partners, a specialist investment banking firm with operations in London and Amsterdam.

May 2007 – Straumur acquired 62% share in eQ Bank, a Finnish bank specialising in brokerage, asset management and corporate finance.

June 2007 – Straumur acquired 50% share in WOOD & Company, the leading independent investment house in Central and Eastern Europe.

July 2007 – As a result of a public tender offer, Straumur now controls over 95% of shares in eQ. [ [http://www.mbl.is/mm/vidskipti/frett.html?nid=1278314 Hluthafar eQ samþykkja tilboð Straums-Burðaráss] is icon]

See also

* Landsbanki
* Kaupthing Bank
* Glitnir

Sources

* Official Website - http://www.straumur.net
* Quarterly factsheet - [http://www.straumur.net/upload/straumur_factsheet_Q307.pdf Straumur Q3 07 Factsheet]
* Annual Report - [http://www.straumur.net/upload/pdf's/newsattachment_attachmentnumber=17495.pdf Straumur 2006 Annual Report]

References


Wikimedia Foundation. 2010.

Look at other dictionaries:

  • Straumur Investment Bank — Straumur Burðarás Fjárfestingabanki hf. Rechtsform Aktiengesellschaft ISIN IS0000000644 …   Deutsch Wikipedia

  • Bank of America Home Loans — Type Subsidiary of Bank of America Founded 1969 (Countrywide), February 2009 (Bank of America Home Loans) Headquarters Calabasas, CA, USA (Countrywide Financial) Cha …   Wikipedia

  • Bank of America — Not to be confused with First Bank of the United States, Second Bank of the United States, or Bank of United States. Bank of America Corporation Type Public Traded as …   Wikipedia

  • National Bank of Canada — This article is about a commercial bank. For Canada s central bank, see Bank of Canada. National Bank of Canada Banque Nationale du Canada Type Public company Traded …   Wikipedia

  • EQ Bank — Infobox Company company name = eQ Bank Ltd company company type = Private foundation = 1998 location = Helsinki, Finland key people = Antti Mäkinen (Managing Director) area served = Finland industry = Financial Services products = Banking revenue …   Wikipedia

  • Anglo Irish Bank hidden loans controversy — For this controversy in the wider context of the Irish banking crisis, see 2008–2009 Irish banking crisis. The Anglo Irish Bank hidden loans controversy (also known as the circular transactions controversy) began in the Republic of Ireland in… …   Wikipedia

  • OneWest Bank — OneWest Bank, FSB Type Private Industry Banking Founded March 19, 2009 Headquarters Pasadena, California, US Key people Joseph Otting, CEO and President …   Wikipedia

  • DSB Bank — NV Former type Private Industry Financial services Fate Declared bankrupt by a Dutch court. Founded 1975 …   Wikipedia

  • XL Airways France — Pour les articles homonymes, voir XL. XL Airways France …   Wikipédia en Français

  • XL Leisure Group — était un groupe qui a fait faillite le 12 septembre 2008. Il était constitué de compagnies aériennes, de Tour Opérateurs, et de sociétés de commercialisation de produits XL. Le groupe XLLG était composé de trois compagnies aériennes : XL… …   Wikipédia en Français


Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”

We are using cookies for the best presentation of our site. Continuing to use this site, you agree with this.