London-based advisory boutique Hawkpoint has landed the sole mandate to counsel the Icelandic government on the restructuring of the country’s banking system in what could be a precursor to a similar assignment from UK authorities.
In a rare example of a non-bulge bracket firm picking up work on behalf of a national government, Hawkpoint has been appointed by the Icelandic Ministry of Finance to lead negotiations between the three new banks created in the wake of the collapse of the main Icelandic commercial banks - Glitnir, Kaupthing and Landsbanki - and the creditors of the old banks.