Saga Investment Bank hf. was an independent

investment bank Investment is traditionally defined as the "commitment of resources into something expected to gain value over time". If an investment involves money, then it can be defined as a "commitment of money to receive more money later". From a broade ...

Iceland Iceland is a Nordic countries, Nordic island country between the Atlantic Ocean, North Atlantic and Arctic Oceans, on the Mid-Atlantic Ridge between North America and Europe. It is culturally and politically linked with Europe and is the regi ...

, specialising in providing a range of investment services including

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

, securities

brokerage A broker is a person or entity that arranges transactions between a buyer and a seller. This may be done 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. Neith ...

, 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 * Fidelity bond, a type of insurance policy for employers * Chemical bond, t ...

issues and

investment Investment is traditionally defined as the "commitment of resources into something expected to gain value over time". If an investment involves money, then it can be defined as a "commitment of money to receive more money later". From a broade ...

advice for companies,

institutions An institution is a humanly devised structure of rules and norms that shape and constrain social behavior. All definitions of institutions generally entail that there is a level of persistence and continuity. Laws, rules, social conventions and ...

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 corporate stock refers to an individual or legal entity (such as another corporation, a body politic, a trust or partnership) that is registered by the corporation as the ...

. 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 (, ) is a town in northern Iceland, the country's fifth most populous Municipalities of Iceland, municipality (under the official name of Akureyrarbær , 'town of Akureyri') and the largest outside the Capital Region (Iceland), Capital R ...

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

Reykjavík Reykjavík is the Capital city, capital and largest city in Iceland. It is located in southwestern Iceland on the southern shore of Faxaflói, the Faxaflói Bay. With a latitude of 64°08′ N, the city is List of northernmost items, the worl ...

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 t ...

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 investm ...

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

Intermediation An intermediary, also known as a middleman or go-between, is defined differently by context. In law or diplomacy, an intermediary is a third party who offers intermediation services between two parties. In trade or barter, an intermediary acts ...

and consulting regarding

mergers and acquisitions Mergers and acquisitions (M&A) are business transactions in which the ownership of a company, business organization, or one of their operating units is transferred to or consolidated with another entity. They may happen through direct absorpt ...

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) is an American stock exchange based in New York City. It is the most active stock trading venue in the U.S. by volume, and ranked second on the list ...

OMX 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