Glitnir banki hf. has received a letter from Hannes Smárason, President of FL group, stating his resignation as board member. The reason for his resignation is his forseeable membership of the board of directors of of Straumur-Burdarás investmentbank ltd.. Jón Sigurðsson, managing director at FL Group, has now become a member of the board of directors of Glitnir banki. Jón is the first alternate of Hannes Smárason, who now has resigned. Hannes Smárason and Jón Ásgeir Jóhannesson, CEO of Baugur group will both be sitting on the board of Straumur-Burdarás after FL group bought a 24% share. This brings three of the most powerful men in Icelandic business together on the board of Straumur-Burdarás because Björgólfur Thor Björgólfsson is the chairman of Straumur-Burdarás.Björgólfur and his father Björgólfur Gudmundsson are the main shareholders of Landsbankinn while FL-group is one of the main shareholders of Glitnir bank.