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Finsbury partner Morgan Bone is leading the account which is believed to be worth around 100,000 a year. Finsbury and 2 other unnamed firms were thought about for the work, granted previously this month on a kept basis. The bank uses Icelandic firm Inntak PR in its home market. Landsbanki senior director Larus Welding stated: 'We were the mandated lead arranger for [Icelandic investment business] Baugur Group's acquisition of [UK jeweller] Goldsmiths in May.

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' We got some press at that time, and when you are not represented you get criticism or extremely loose press. We wanted to make certain things were mentioned precisely which we were comprehended properly.' Landsbanki has actually owned Heritable Bank given that 2000 and runs in the syndicated loans and leveraged financing markets in the UK.

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It handles 4. 5bn of possessions, making it Iceland's second-biggest bank by possessions after Kaupthing Bank. Originally state-owned, Landsbanki was privatised in February last year and has a 30 per cent share of the nation's deposits and providing market. Landsbanki also owns a 51 per cent stake in renting business SP Financing.

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