Iceland’s SL Pension Fund has appointed Guðmundur Stefán Steindórsson as managing director, with effect from 1 June 2025.

Steindórsson is currently head of risk management and has worked for SL Pension Fund since 2016 in this role.

He is an engineer with extensive experience in the financial market before joining SL Pension Fund.

Commenting on his appointment, Steindórsson said: "I appreciate the trust shown in me by the board. I am very familiar with SL Pension Fund and the dynamic employees who work for it and am full of anticipation to take on this new role."

Steindórsson will replace Sigurbjörn Sigurbjörnsson who requested to step down from the role after having worked for the fund for 37 years.

“It has been a long and successful time, and I have been very fortunate to have colleagues and the board of directors. I believe this is the right time for this change, the position of SL Pension Fund is very good, it is aiming for good returns in 2024 and the operations are very solid,” Sigurbjörnsson commented.

“During my time as managing director, 10 pension funds have merged with SL, returns have been very good, the portfolio is sound, the rights of fund members are balanced, and the fund's operations are certified. So, I leave the table very satisfied."

Adding to this, SL Pension Fund chairman of the board, Magnús Björn Jónsson, said that the fund had been a “cautious” fund under Sigurbjörnsson's management and delivered a “very good” estate that Steindórsson knows well.

Jónsson thanked Sigurbjörnsson on behalf of the board of directors for his work for SL Pension Fund.

“Sigurbjörn has managed the fund conscientiously and faithfully, the fund has grown and prospered under his leadership, and its assets have multiplied. It is also extremely important that pensioners' payments have never had to be reduced, as well as that the fund has delivered returns that are among the best in Icelandic pension funds,” he added.

“It is the opinion of the board of directors that it is important to continue the good practices and procedures that have been built up at the fund. The board therefore agreed to hire Guðmundur as managing director.”

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