Arion banki hf. appointed Lýdur Thór Thorgeirsson managing director of investment banking to replace Ida Brá Benediktsdóttir, who was named managing director of retail banking in July.

Thorgeirsson will also be a member of the bank's executive committee when he starts work Oct. 25. He will report to CEO Höskuldur Ólafsson.

Previously, Thorgeirsson was GAMMA Capital Management's managing director of alternative investments.