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Iceland's Interior Minister

Ólöf Nordal

Created to hold proceeds of Sigurdsson’s stock options, according to Sigurdsson

Related to  Iceland
Data from: Panama Papers
Ólöf Nordal is the interior minister of Iceland. A member of the Independence Party, she has served in the Cabinet since December 2014. She has been a member of parliament since 2007. Earlier in her career, Nordal – who has both law and business degrees – worked as an attorney for the Iceland Stock Exchange from 1999-2001 and taught law at at Bifröst University, where she also chaired the business law department. Her father, Jóhannesi Nordal, was governor of the Central Bank of Iceland from 1961-1993 and also its chairman from 1964 until his retirement in 1993.

In the data

Ólöf Nordal and her husband, Tómas Már Sigurdsson, a senior executive with American aluminum company Alcoa, controlled Dooley Securities SA when they obtained power of attorney privileges in November 2006. Shares in the company, registered in the British Virgin Islands, were held in the name of a Luxembourg unit of Landsbanki, one of the big Icelandic banks at the center of the country's financial crisis that began in 2008. In August 2007, Sigurdsson pledged Dooley’s shares in an agreement with Landsbanki, which collapsed a little more than a year later.

Response

Nordal's husband Sigurdsson said the company was created to hold proceeds from his Alcoa stock options, but they were never exercised and no funds were transferred to the company. He said that neither he nor his wife were shareholders in Dooley Securities. "We do not own and have never owned any offshore companies."
Iceland's minister of finance
Bjarni Benediktsson
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Konrad Mizzi

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