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Finsbury partner Morgan Bone is leading the account which is thought to be worth around 100,000 a year. Did you see this? and two other unnamed agencies were thought about for the work, awarded earlier this month on a kept basis. The bank uses Icelandic agency Inntak PR in its home market. Landsbanki senior director Larus Welding stated: 'We were the mandated lead arranger for [Icelandic investment company] 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 bad press or really loose press. We wished to make certain things were specified accurately and that we were understood properly.' Landsbanki has actually owned Heritable Bank since 2000 and operates in the syndicated loans and leveraged financing markets in the UK.

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It handles 4. 5bn of assets, making it Iceland's second-biggest bank by assets after Kaupthing Bank. Initially state-owned, Landsbanki was privatised in February in 2015 and has a 30 percent share of the nation's deposits and providing market. Landsbanki also owns a 51 per cent stake in leasing business SP Finance.

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