Icelandic financial firm opens UK office
Icelandic fund-management company GAMMA has announced the opening of a new London office. This makes the company the first Icelandic financial institution to open offices outside of Iceland following the announcement of an Icelandic government plan to lift the country’s capital controls.
According to CEO Gísli Hauksson, “[t]he lifting of Iceland’s capital controls opens up enormous opportunities for Icelandic investors and the Icelandic capital markets.”
With the lifting of capital controls in sight, GAMMA has been preparing foreign operations for some time.
“Opening up a London office for GAMMA may be a small initial step, but in our view it is an important step for the Icelandic financial market. Capital controls in Iceland have meant that the latest generation of investors and bankers in Iceland have, in recent years, been able to have only very limited involvement in international banking.”
GAMMA received authorisation from the Icelandic Financial Supervisory Authority last week to begin operating in the United Kingdom.