Ármann Þorvaldsson

This is an Icelandic name. The last name is a patronymic, not a family name; this person is properly referred to by the given name Ármann.

Ármann Þorvaldsson was the UK CEO of Kaupthing Bank at the time of its collapse in 2008.

Born in Reykjavík in 1968, Ármann graduated from Fjölbrautaskólinn í Breiðholti in 1989, taking a BA in history from the University of Iceland in 1992 and an MBA at Boston University in 1994. He married Þórdís Edwald; both played badminton at an international level.[1] In that year, he joined the Icelandic company Kaupthing as Director of Planning and Budgeting, subsequently serving as managing director of investment banking from 1997 to 2005. He became a director of Kaupthing Singer & Friedlander Group PLC on 26 July 2005, and on 25 October 2005 he became CEO of Kaupthing Singer & Friedlander Group PLC (formerly, Singer & Friedlander Group PLC) at Kaupthing Bank hf.[2]

After the collapse of Kaupþing, Ármann wrote an autobiographical account of Iceland's boom and the 2008–2011 Icelandic financial crisis which was intended as a defence of his role and his colleagues'.[3]

While Ármann was investigated by the UK's Serious Fraud Office following Kaupþing's collapse, he was not charged.[4] The UK's Financial Services Authority 'said it had not found any regulatory breaches against' Ármann.[5]


  1. Armann Thorvaldsson, Frozen Assets: How I Lived Iceland's Boom and Bust (Chichester: Wiley, 2009), pp. 2, 58.
  2. "Bloomberg Business Week: Executive Profile, Armann Thorvaldsson". "Gjaldþrot Seðlabanka Íslands og Toronto Dominion" 17 October 2009.
  3. Armann Thorvaldsson, Frozen Assets: How I Lived Iceland's Boom and Bust (Chichester: Wiley, 2009); Ármann Þorvaldsson, Ævintýraeyjan: uppgangur og endalok fjármálaveldis, trans. by Svanborg Sigmarsdóttir (Reykjavík: Bókafélagið, 2009).
  4. "SFO drops investigation into two more Kaupthing suspects", 19 July 2012.
  5. "Kaupthing directors could run bank again", 26 June 2012.

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