Saga Investment Bank hf. was an independent investment bank in Iceland, specialising in providing a range of investment services including corporate finance, securities brokerage, asset management, bond issues and investment advice for companies, institutions and other professional investors.[1] The firm operated according to the Financial Institutions Act No. 161/2002 [2] under the supervision of the Icelandic Financial Supervisory Authority.[3]

Origins

Saga Investment Bank hf. was established in the autumn of 2006 under the name of Saga Capital Investment Bank.[4] By the spring of 2007, the firm completed a closed share offer resulting in approximately 60 shareholders. Its standard banking operation began in the summer of 2007 after the Financial Supervisory Authority granted the firm an investment bank operating license.[5] The bank abbreviated its name from Saga Capital Investment Bank to Saga Investment Bank in the autumn of 2010.[6]

Offices

Saga Investment Bank's offices were located in the north and southwest of Iceland. The firm's main headquarters was in Akureyri, but the Corporate Finance and Capital Markets sectors are located were Reykjavík.[7]

Business Segments

Saga Investment Bank was organised into two main business segments:

Corporate Finance

Capital Markets

Capital Markets provided stock broking services for companies, investment funds, mutual funds, pension funds and other investors. Saga Investment Bank was a member of stock exchanges in all the Nordic countries through NASDAQ OMX Nordic Exchange.[8]

Bankruptcy and Closure

Saga Investment Bank filed for bankruptcy in 2019 and ceased to exist following liquidation of all assets.[9]

References

  1. ↑ "Vefur í vinnslu | Stefna hugbúnaðarhús | vefumsjónarkerfi-vefsíðugerð-heimasíðugerð". Archived from the original on 2012-09-11. Retrieved 2011-01-25.
  2. ↑ "2002 nr. 161 20. desember/ Lög um fjármálafyrirtæki". althingi.is. Retrieved 11 February 2015.
  3. ↑ "404 - Síða fannst ekki". Fjármálaeftirlitið. Retrieved 11 February 2015. {{cite web}}: Cite uses generic title (help)
  4. ↑ "Saga fjárfestingar er nýtt fyrirtæki á íslenskum fjármálamarkaði". mbl.is. Retrieved 11 February 2015.
  5. ↑ "Byrja á föstudegi til fjár". mbl.is. Retrieved 11 February 2015.
  6. ↑ "Saga Capital Investment Bank in Iceland becomes Saga Investment Bank | IceNews - Daily News". 3 November 2010.
  7. ↑ "Saga Capital fjárfestingabanki opnaður formlega". mbl.is. Retrieved 11 February 2015.
  8. ↑ "Vefur í vinnslu | Stefna hugbúnaðarhús | vefumsjónarkerfi-vefsíðugerð-heimasíðugerð". Archived from the original on 2012-09-09. Retrieved 2011-01-25.
  9. ↑ "Þrotabú Saga Capital vann í Hæstarétti". www.mbl.is (in Icelandic). Retrieved 2023-01-04.
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