The Board of Directors of Kvika has decided to merge all the asset and fund management activities of the group. In addition to Kvika’s asset management, the bank owns the management companies GAMMA Capital Management hf. and Jupiter Capital Management hf. Following the merger, the merged Kvika subsidiary will become the biggest asset and fund management company in Iceland. The company announced that Hannes Frímann Hrólfsson, who has been the managing director of Kvika’s asset management division, will become the managing director of the merged company and immediately step in as the managing director of Jupiter.  Ragnar Páll Dyer will start work as the Managing Director of the Finance and Operations division of Kvika. Ragnar has been working with Jupiter since 2010 and was the Managing Director of Jupiter since 2013.