Chief executives of two Icelandic pension funds have resigned after being embroiled in the Panama Papers scandal.
Kári Arnór Kárason and Kristjáns Arnar Sigurðssonar, chief executives at the ISK157bn (€1bn) Stapi pension fund and the ISK171bn Sameinaði pension fund, respectively, stepped down following an investigation by RÚV, the Icelandic public broadcaster.
The investigation by news programme Kastljós revealed both were named in the so-called Panama Papers, a cache of millions of documents from Panamanian law firm Mossack Fonseca initially leaked to a German newspaper.
In a brief statement released 27 April, Sigurðssonar said he had decided to resign but claimed he had always acted with integrity and taken care to comply with existing laws and regulations.
In a separate statement, Sameinaði said the fund’s director of operations, Ólafur Haukur Jónsson, would fill the vacancy