PRINT THIS PAGE Paine & Partners hires Bjarni Ármannsson, Frank Reite23/04/2008. Source: AltAssets. 
San Francisco and New York-based private equity firm Paine & Partners has hired Bjarni Ármannsson and Frank O Reite as operating directors. Ármannsson and Reite will focus on opportunities in the Nordic region, with an emphasis on the seafood, energy and financial services industries. W Dexter Paine III, a founding partner of Paine & Partners, said, 'Many of us have had the pleasure of working closely with Frank and Bjarni over the years, and we have long respected each man's judgment, skill and strong business achievements in, among other regions, the Nordics, Europe and the US.
'Our relationship with Frank began ten years ago when he was an executive in the seafood industry at Aker, and continued through his tenure at Glitnir Bank. Bjarni was named CEO of Glitnir, one of Iceland's largest banks, at the age of 31 and served in that role for over seven years. In that time, he developed considerable experience in several industries on which we focus, including financial services and energy. Frank's and Bjarni's experience and vast knowledge base will help us expand our investments in a new and exciting direction and capture additional opportunities in Europe and the Nordics that represents new markets with growth opportunities for Paine & Partners,' he added.
Paine & Partners is currently investing its $1.2bn Paine & Partners Capital Fund III, raised in 2007.
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