Kvika banki hf. CEO Ármann Þorvaldsson, at his request, will assume the role of deputy CEO of the bank immediately after stepping down as CEO.
He will focus on building client relations, developing business opportunities and will support the development of the bank's operations in the U.K.
The board appointed Marinó Tryggvason, who was deputy CEO of the bank since 2017, as CEO.
Þorvaldsson and Tryggvason were named CEO and deputy CEO, respectively, in May 2017.