Board of Directors and Executive Board

The Board of Directors is ultimately responsible for the Bank's operation and strategy and for ensuring that the Bank’s activities comply with laws, its Articles of Association and other rules relevant to its operation. The Bank's operation is divided into six divisions, three business units and three support units.

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Board of Directors

The Board of Directors is ultimately responsible for the Bank’s activities as provided for by law, regulations and its Articles of Association. The Board of Directors formulates the Bank’s general strategy and is to ensure that the Bank’s organisation and activities are adequate and effective at all times. The Board of Directors also monitors the Bank’s general activities and ensures that control of accounting and financial management is satisfactory.

Helga Björk Eiríksdóttir, Chairman of the Board of Directors

Helga Björk Eiríksdóttir is Managing Director of Integrum, a company that operates in the field of real estate development and provides advisory service. Previously, she handled public relations for Marel and chaired the Board of Directors of Sparisjóður Svarfdæla. In 2009 and 2010, she handled PR for the Resolution Committee and Winding-up Board of Kaupthing hf. Helga Björk was marketing and PR manager of Nasdaq OMX Iceland for an 8-year period.

Helga Björk holds an MBA from the University of Edinbourgh. She graduated from the University of Iceland in 1997 with a BA degree in English and Italian and completed a degree in journalism from the same institution in 1999. Helga Björk completed a degree in marketing and export management from the Department of Continuing Education at the University of Iceland in 2002 and has studied brokerage at the University of Reykjavík. She worked as an independent consultant in 2010-2012.

Berglind Svavarsdóttir, Vice-chairman

Berglind Svavarsdóttir is a Supreme Court Attorney and partner at Lögfræðistofa Reykjavíkur. Berglind graduated with a degree in law from the University of Iceland in 1989. Berglind holds a diploma in general management from the University of Akureyri. She worked at the Directorate of Tax Investigations in Iceland in 1988-1989 and for the District Commissioner at Húsavík in 1990-1996. She was owner of a legal firm and real estate agency in 1996-2003, partner in Regula lögmannsstofa ehf. and partner in Acta lögmannsstofa until Acta merged with Lögfræðistofa Reykjavíkur. Berglind has held various positions of authority and sat on public committees. Berglind was elected chairman of the board of the Icelandic Bar Association in May 2018.

Einar Thór Harðarson

Einar Thór has worked as partner and management consultant at Intellecta, focusing among other things on strategy formulation and change management, since 2001. After graduating in industrial engineering from the University of Iceland in 1987, he received a master's degree in production engineering from Oregon State University in the US in 1992. He also earned an MBA from the Norwegian School of Management in Oslo in 1997. From 1987 to 1989, Einar Thór was a project manager at Eimskip and 1989-1991 at the Icelandic Fisheries Laboratories. Since 1992, he has worked as a consultant, both in Iceland and in Norway. Einar has served as director for various Icelandic enterprises and associations, including on the board of Excellence Iceland and the Icelandic Performance Satisfaction Index.

Hersir Sigurgeirsson

Hersir Sigurgeirsson is Associate Professor of Finance in the Faculty of Business Administration of the University of Iceland and an independent consultant. Hersir graduated with a BSc degree in mathematics from the University of Iceland in 1995, then completed a master's degree in financial mathematics from Stanford University in 1999 and a doctorate in applied mathematics from the same university in 2001. He is also a certified securities broker. Hersir has extensive experience of work on financial markets. He worked for Saga Capital in Akureyri, first as managing director of risk management and operations. then as CEO. He also worked as a consultant for the World Bank in Washington in 2013-2015. In recent years, Hersir has sat on the boards of various enterprises, served on committees and has been expert judicial advisor and court-appointed assessor in numerous court cases concerning valuations, taxation issues etc.

Jón Guðmann Pétursson

Jón Guðmann Pétursson graduated as cand. oecon. from the Faculty of Business Administration of the University of Iceland in 1982 and worked for the auditing firm Endurskoðunarskrifstofa Björns & Ara in 1982-83. Jón was CFO of the independent institutions of the Iceland Defence Force from 1984 to 1987, CFO of Hampiðjan 1987-2002 and CEO of that company 2002-2014. Jón has served on the boards of a large number of domestic and foreign companies, including the board of Hampiðjan in 2006-2014 and its subsidiaries in Denmark, Ireland, Lithuania and other countries. He has been a director of Royal Iceland since 2014, was a director of Iceland Seafood International 2009-2011, of Vaka 2002-2004, and of the Iceland Stock Exchange 1996-1999.

Sigríður Benediktsdóttir

Sigríður Benediktsdóttir completed a BSc degree in economics from the University of Iceland and a BSc in computer science from the same institution in 1998. Sigríður was awarded her doctorate in economics from Yale in May 2005. In 1995-1997, Sigríður worked for the Institute of Economics of the University of Iceland and as project manager and consultant at Hugvit hf. in 1997-1998. She worked as an economist for the US Federal Reserve in 2005-2007. From 2007, Sigríður taught and held the post of Assistant Dean at the Yale School of Economics. During that time, she worked on research in financial economics, focusing on financial markets. Sigríður was appointed to the Icelandic Parliament's Special Investigation Commission into the failure of the banking system in 2008 and was a member of the Danish Systematic Risk Council in 2013-2016. Sigríður Benediktsdóttir was hired by the Central Bank of Iceland as the Managing Director of Financial Stability in 2011 and held that position until 2016. Sigríður is a member of the financial administration board of the non-profit organisation New Haven Reads which was founded to increase literacy skills in underprivileged children. She has held many other confidentiality positions and authored numerous scholarly articles. She currently works in research and teaching at Yale University in the US.


Guðrún Ó. Blöndal

Guðrún Ó. Blöndal completed a cand.ocean. degree from the University of Iceland in 1990. Guðrún worked for Kaupthing in 1982-2002, first in asset management and later as marketing director, HR manager and head of the custody department until 2002. She was managing director of Arion securities custody, a subsidiary of Kaupthing, from its establishment in 2002 until it merged into Arion Bank in 2012. In 2012-2013, she was a director of the boards of Framtakssjóður Íslands slhf., Reginn hf., Vörður tryggingar hf., Vörður líftryggingar hf. and Míla ehf. Guðrún was managing director of Nasdaq verðbréfamiðstöð hf. from 2013 to 2018.

Guðrún was elected as Alternate to the Board of Directors in March 2018.

Thorvaldur Jacobsen

Thorvaldur Jacobsen works for Valcon Consulting A/S in management consultancy and change control. Thorvaldur completed a degree in electrical engineering from the University of Iceland in 1987 and a degree in computer science from the same institution in 1988. He completed a master’s degree in electrical engineering from the University of Texas at Austin in 1990. Thorvaldur worked for Opin kerfi as a sales manager in 1990-1996 and as a sales and marketing manager of Teymi in 1996-1999. He became managing director of Vísir ehf. in 1999 and led that company until 2001. Thorvaldur worked for the Nýherji Group for several years, first as managing director of communications solutions in 2001-2005 and later as managing director of core solutions in 2005-2008. He acted as CEO of Dansupport A/S (a Nýherji subsidiary in Denmark) for a six-month period in 2007-2008, was a managing director at Skyggni 2009-2011, managing director at UAB Baltic IT Services 2010-2012 (a Nýherji subsidiary in Lithuania), and finally managing director of operating solutions at Nýherji in 2011-2012. Thorvaldur was managing director of the development division at VÍS in 2012-2017, when he took up his current post. He sits on the board of Sensa ehf., a subsidiary of Síminn, and has previously been a director of the boards of various companies, including UAB Baltic IT Services, ITIVA A/S and DanSupport A/S and various non-profit organisations in his field.

Thorvaldur was elected as Alternate to the Board of Directors in March 2018.

Executive Board

The Bank's organisational structure includes six divisions: Personal Banking, Corporate Banking, Markets, Risk Management, Finance, and IT. The managing directors of the divisions, along with the CEO, comprise the Bank's Executive Board.

Lilja Björk Einarsdóttir, CEO

The Bank’s CEO is responsible for the Bank’s day-to-day operations and is authorised to take decisions on all questions not entrusted to others by law, the Bank’s Articles of Association or decisions by the Board of Directors.

Lilja is a mechanical and industrial engineer from the University of Iceland and holds an MSc in financial engineering from the University of Michigan, Ann Arbor. In 2008 to 2016, Lilja directed the operation, asset management and recovery of the assets of old Landsbanki Íslands, LBI ehf., in London. In 2005 to 2008, she worked as a specialist and later Managing Director at Landsbanki Íslands hf. in London, responsible for the daily operation and development of support functions, amongst other things.

Lilja previously worked for consulting firm Marsh & McLennan for such clients as the Ford Motor Company, as an expert in planning and creating risk models for the insurance and treasury departments.

Information Technology (IT)

All the departments of IT share responsibility for the operation and development of Landsbankinn's infrastructure. 

Arinbjörn Ólafsson is Managing Director of Information Technology.

Arinbjörn completed an MSc in industrial engineering from the University of Iceland in 2000 and a Ph.D in the same subject from the University of Wisconsin-Madison in 2006.

He commenced work at Landsbankinn's Securities division in 2006. In 2009-2015, he worked on the financial restructuring of companies and headed the recalculation of foreign currency indexed loans. Arinbjörn took up the post of Head of Landsbankinn’s IT department in 2015. He was appointed Managing Director of IT in 2017.

Corporate Banking

The principal tasks of Corporate Banking include services for companies, local authorities and institutions. Landsbankinn's Corporate Banking Service Centre is part of its Corporate Banking division.

Árni Thór Thorbjörnsson is Managing Director of Corporate Banking.

A law graduate of the University of Iceland with a diploma in business operations and administration, Árni Thór received accreditation in Corporate Finance from the Securities & Invesment Institute in London in 2005.

He has worked for Landsbankinn since 1996, first on general legal tasks, advisory and court representation. Árni was head counsel of Corporate Banking at Landsbanki Íslands hf. until 2008, then took over as Managing Director of Corporate Banking upon the establishment of Landsbankinn hf.

Personal Banking

Personal Banking provides households and individuals with a full range of banking services and also provides basic banking service to small companies through the bank's branches and outlets throughout Iceland.

Helgi Teitur Helgason is Managing Director of Personal Banking.

After graduating from the Faculty of Law of the University of Iceland in 1998. Helgi began to work as a solicitor and subsequently as a barrister. After working for Landsbankinn in legal collection and advisory services he headed the establishment of Intrum and Lögheimtan in Akureyri in 2001.

After working as regional manager and attorney in North Iceland, in 2004 he took over as manager of Landsbankinn's Akureyri branch. Since 2010, he has been Managing Director of Personal Banking.


Markets is responsible for services linked to the sale and brokering of securities, market making, corporate finance and asset management.

Hrefna Ösp Sigfinnsdóttir is Managing Director of Markets.

A business graduate of the University of Iceland, Hrefna is also a certified securities broker. Before joining Landsbankinn in 2010 she worked as fund manager for Arev Securities from 2007, and as analyst and head of the listing division of the Iceland Stock Exchange from 1998 to 2006.

Prior to that Hrefna was head of Retail Banking at Fjárvangur and worked in the monetary policy department of the Central Bank of Iceland.


Finance incorporates both business and support units in eight departments: Treasury, Financial Administration, Economics, Loan Administration, Legal, Financial Reporting, Operations, and Transaction Services.

Hreiðar Bjarnason is Managing Director of Finance.

Hreiðar holds a degree in business administration from the University of Iceland and an MSc degree in finance from London Business School. He is a certified securities broker. Hreiðar came to work for Landsbanki Íslands hf. in 1998, first in Capital Markets and later in the Bank's Treasury division. He assumed the post of Managing Director of Markets and Treasury at Landsbankinn hf. early in 2010 and became Managing Director of Finance in August 2012.

Finance incorporates both business and support units in five departments: Treasury, Financial Administration, Economic Research, Legal, and Financial Reporting.

Risk Management

Risk Management is responsible for analysing and supervising risk in the Bank's operations. Risk Management also plays a key role in Landsbankinn's credit process.


Perla Ösp Ásgeirsdóttir is Managing Director of Risk Management.

A graduate of Reykjavík University with an MSc in Finance, Perla began working for Landsbankinn as head of Risk Management in 2010 and took over as Managing Director later that same year.

From 2005 to 2010 Perla worked for the Central Bank of Iceland. Her responsibilities at the Central Bank included monitoring financial undertakings and markets, as well as developing risk models for the Icelandic financial market. Perla worked for the Special Investigation Commission of the Icelandic parliament Althing in 2009.

Internal Audit

Internal Audit assesses the corporate governance, risk management and supervisory practices at Landsbankinn. Examinations by Internal Audit are intended, among other things, to provide reasonable assurance that the Bank is achieving its targets for efficiency, safeguarding assets, and reliability of information – and that it complies with laws and rules.

Kristín Baldursdóttir is Landsbankinn's Internal Auditor.

An economics graduate from the University of Iceland with an MPM degree from the same university, Kristín is a certified securities broker and has international accreditation as an Internal Auditor.

She began working in Landsbankinn's Internal Audit department in 2009, after 18 years at Íslandsbanki as customer relations manager, project manager and head of the bank's operations department.


The role of Compliance is to provide Landsbankinn's employees with instruction and advice on the implementation of legislation and to limit as far as possible the Bank's compliance risk. Compliance is also responsible for measures to prevent money laundering and terrorist financing.

Þórður Örlygsson is Landsbankinn's Compliance Officer.

A law graduate of the University of Iceland, Þórður began work for Landsbankinn in 2004, initially as a debt resolution specialist, then took over as Compliance Officer in 2005.

Prior to that he had worked in Legal Advisory for Kaupthing Bank hf. and Búnaðarbanki Íslands hf.

Landsbankinn's Organisational Chart