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The CEO of Islandsbanki has told 5 live a "diversified" staff is crucial to running a successful bank.

Speaking to Wake Up To Money's Colletta Smith, Birna Einarsdottir, who took over as CEO of Islandsbanki after the banking crash in 2008, said "genders, also background, education, even location" were important considerations when choosing top level staff adding that there "no excuse that there are no women" on many company boards around the world.

Iceland became synonymous with the banking crash in 2008 as after years of boom on an unprecedented scale, the whole banking system collapsed. The government took charge, refused to pay back investors and re-built the banks from the ground up.

This clip is originally from 5 live's Wake Up To Money on Thursday 8 December 2016.