Úlfar Freyr Stefánsson has been appointed Chief Risk Officer of Arion Bank. Úlfar is taking over from Gísli S. Óttarsson who will be leaving the Bank after having been Chief Risk Officer and a member of the Bank’s executive committee since 2009. Gísli will step down at the end of the month but will continue to work in an advisory capacity for the Bank. Úlfar joined the Bank’s Risk Management division in 2013 after having worked at Kaupthing since 2010, where his positions included head of risk management. Úlfar was Head of Portfolio Risk at Arion Bank from 2013 to 2015, when he took over as Head of Balance Sheet Risk.