Icelandic bankers back in London
GAMMA Capital Management Limited, an Icelandic financial firm, has received authorisation to operate and offer financial services in the United Kingdom.
GAMMA becomes the first Icelandic financial firm to operate in the UK under an FCA licence since the 2008 financial crisis. Prior to 2008, a number of Icelandic financial firms had operations in the UK and were regulated by the then FSA (Financial Supervisory Authority), including three of Iceland’s largest banks, Kaupþing, Landsbankinn og Glitnir.
In 2015, GAMMA opened a branch in London in anticipation of Iceland lifting its capital controls. The branch was operated under licence from and supervised by the FSA and operated in the UK under an EEA authorisation.
The UK’s Financial Conduct Authority approved the firm’s licence on Friday, allowing it to offer various financial services to corporations and investment services to British clients.