Two financial groups announced on Tuesday they have formed a new financial advisory company specializing in the seafood and geothermal energy industries.
Called Capacent Glacier, the new company unites two financial groups: Capacent of Reykjavík, Iceland, and Glacier Partners Corp. of New York. Capacent was established in 2005 when IMG and KPMG Consulting merged, while Glacier Partners was formed in 2008 by four bankers who acquired the North American operations of Glitnir after the bank was nationalized by the Iceland government and renamed Íslandsbanki.
Capacent Glacier will maintain offices in both Iceland and New York.
Magnus Bjarnason, previously executive VP of international banking at Glitnir, will be the new company's managing partner-business development. Sig Hardarson, head of Capacent's financial advisory practice, will be managing partner-operations.
Jon Gardar Gudmundsson will be responsible for the seafood business outside of North America, while Sigurdur Valgeir Gudjonsson will oversee Capacent Glacier's M&A (mergers and acquisitions) activities in Iceland.
The team also includes Timothy Spanos, with more than 20 years of experience with Bank of America and Glitnir; Sigurdur Jon Bjornsson, previously with Framtak Investment Bank; Jonathan Logan, formerly of Rabobank and Glitnir; and Ignacio Kleiman, previously with Rabobank, Deutche Bank, JP Morgan and Glitnir.
"There is significant value in the knowledge and connections that former Glitnir employees possess in the seafood and geothermal energy industries," says Bjarnason. "Icelanders are competitive in the global arena in both of these industries, and we are excited about the opportunity to continue the important work in these sectors. We aim to create value for our clients in the seafood and geothermal industries through our knowledge and the partnership with Capacent."
April 1, 2009
