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
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 u6 billion
international bank, by far the largest in his countryOCOs history.
Helping to build the biggest names in Icelandic business,
Thorvaldsson represented the money behind such household names as
easyJet, Matalan, Iceland 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. ThorvaldssonOCOs reflections on exactly what
happened and why, make compelling reading."
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