New Glitnir directors in Chile and Peru strengthen seafood team

Glitnir seafood industryGlitnir has appointed two new business directors for Chile and Peru, as part of a move to strengthen its global expertise within the seafood industry.

“To have people of their calibre joining the bank is another statement of Glitnir’s strength. This will not only build new opportunities for our business in South America, but also create opportunities in other regions seeking targets for European, US and Asian companies in South America”, said Jon Gardar Gudmundsson, Glitnir’s Managing Director for Asia & Latin America.

Fish meal and fish oil production is a growing industry in Peru, a country which has a long history as a fishing nation. Peru has experienced strong economic growth in the past few years, with more than a doubling of its GDP between 2003 and 2007. Glitnir assisted Peruvian company Copeinica with listing on the Oslo Stock Exchange in January 2007.

Peru also has a considerable potential for geothermal energy exploitation, which is another of Glitnir’s main areas of expertise. Although Glitnir’s main focus in the region in the near future remains on the seafood sector, there are also plans to tap into the geothermal market.

Magnus Bjarnason, Executive Vice President of Glitnir, said, “We feel it is important to have people on the ground in strategic markets. Our two new business directors are great assets for Glitnir’s international strategy.”

For further information on Glitnir and the seafood and geothermal energy sectors, visit

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