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Vol 21 No 11 Nov/Dec 2016

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Criminal Injuries Compensation Claims

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Frozen Assets: How I Lived Iceland's Boom and Bust


ISBN13: 9780470749548
Published: October 2009
Publisher: John Wiley & Sons Ltd
Country of Publication: USA
Format: Hardback
Price: £16.99



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Iceland truly lived the boom and bust. Once a tiny country on the edge of Europe, in less than two decades it became a global financial powerhouse.

This is the story of how one man, one bank and one country experienced and affected the course of world economic history. Armann Thorvaldsson, a former CEO at Kaupthing in the UK, tells the story of how his company was transformed into a £6 billion international bank, by far the largest in his country’s history. Helping to build the biggest names in Icelandic business, Thorvaldsson represented the money behind such household names as Easyjet, Matalan, Hamleys and Karen Millen.

As the boom got bigger, the Icelandic bankers worked and played hard with their international clients, including Gordon Ramsay, The Candy brothers, Mike Ashley and Robert Tchenguiz. Moving from Reykjavik to London, Monte Carlo and St Tropez, they seemed unstoppable.

Yet, when the bust came, even the most frantic attempts to save the bank were fruitless, leading to the total collapse of the Icelandic economy. Thorvaldsson’s reflections on exactly what happened and why make compelling reading.