Saga Investment Bank hf. was an independent

investment bank Investment is the dedication of money to purchase of an asset to attain an increase in value over a period of time. Investment requires a sacrifice of some present asset, such as time, money, or effort. In finance, the purpose of investing is ...

Iceland Iceland ( is, Ísland; ) is a Nordic island country in the North Atlantic Ocean and in the Arctic Ocean. Iceland is the most sparsely populated country in Europe. Iceland's capital and largest city is Reykjavík, which (along with its s ...

, specialising in providing a range of investment services including

corporate finance Corporate finance is the area of finance that deals with the sources of funding, the capital structure of corporations, the actions that managers take to increase the Value investing, value of the firm to the shareholders, and the tools and anal ...

, securities

brokerage A broker is a person or firm who arranges transactions between a buyer and a seller for a commission when the deal is executed. A broker who also acts as a seller or as a buyer becomes a principal party to the deal. Neither role should be confu ...

, asset management,

bond Bond or bonds may refer to: Common meanings * Bond (finance), a type of debt security * Bail bond, a commercial third-party guarantor of surety bonds in the United States * Chemical bond, the attraction of atoms, ions or molecules to form chemica ...

issues and

investment Investment is the dedication of money to purchase of an asset to attain an increase in value over a period of time. Investment requires a sacrifice of some present asset, such as time, money, or effort. In finance, the purpose of investing i ...

advice for companies,

institutions Institutions are humanly devised structures of rules and norms that shape and constrain individual behavior. All definitions of institutions generally entail that there is a level of persistence and continuity. Laws, rules, social conventions a ...

and other professional investors. The firm operated according to the Financial Institutions Act No. 161/2002 under the supervision of the Icelandic Financial Supervisory Authority.

Origins

Saga Investment Bank hf. was established in the autumn of 2006 under the name of Saga Capital Investment Bank. By the spring of 2007, the firm completed a closed share offer resulting in approximately 60

shareholders A shareholder (in the United States often referred to as stockholder) of a corporation is an individual or legal entity (such as another corporation, a body politic, a trust or partnership) that is registered by the corporation as the legal owner ...

. Its standard banking operation began in the summer of 2007 after the Financial Supervisory Authority granted the firm an investment bank operating license. The bank abbreviated its name from Saga Capital Investment Bank to Saga Investment Bank in the autumn of 2010.

Offices

Saga Investment Bank's offices were located in the north and southwest of Iceland. The firm's main headquarters was in

Akureyri Akureyri (, locally ) is a town in northern Iceland. It is Iceland's fifth-largest municipality, after Reykjavík, Hafnarfjörður, Reykjanesbær and Kópavogur, and the largest town outside Iceland's more populated southwest corner. Nicknamed ...

, but the Corporate Finance and Capital Markets sectors are located were

Reykjavík Reykjavík ( ; ) is the capital and largest city of Iceland. It is located in southwestern Iceland, on the southern shore of Faxaflói bay. Its latitude is 64°08' N, making it the world's northernmost capital of a sovereign state. With a po ...

Business Segments

Saga Investment Bank was organised into two main business segments: *Corporate Finance *

Capital Markets A capital market is a financial market in which long-term debt (over a year) or equity-backed securities are bought and sold, in contrast to a money market where short-term debt is bought and sold. Capital markets channel the wealth of savers to ...

Corporate Finance *

Initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...

s, issues and share listings *Consulting regarding restructuring and agreements with creditors *

Intermediation Intermediation involves the "matching" of lenders with savings to borrowers who need money by an agent or third party, such as a bank.

and consulting regarding

mergers and acquisitions Mergers and acquisitions (M&A) are business transactions in which the ownership of companies, other business organizations, or their operating units are transferred to or consolidated with another company or business organization. As an aspect ...

of companies Capital Markets Capital Markets provided stock broking services for companies, investment funds, mutual funds, pension funds and other investors. Saga Investment Bank was a member of stock exchanges in all the Nordic countries through

NASDAQ The Nasdaq Stock Market () (National Association of Securities Dealers Automated Quotations Stock Market) is an American stock exchange based in New York City. It is the most active stock trading venue in the US by volume, and ranked second ...

OMX Nasdaq Nordic is the common name for the subsidiaries of Nasdaq, Inc. that provide financial services and operate marketplaces for securities in the Nordic and Baltic regions of Europe. Historically, the operations were known by the company ...

Nordic Exchange.

Bankruptcy and Closure

Saga Investment Bank filed for bankruptcy in 2019 and ceased to exist following liquidation of all assets.

References

{{Reflist Banks of Iceland