A Swedish banker

Abstract

It is generally accepted that the Swedish commercial banks have played a significant part in the country's industrialisation. Stockholm's Enskilda Bank in particular possesses a reputation for influence, acquired by granting credit and directing Swedish industry. The history of this bank has, moreover, been intimately linked with that of its owners, the Wallenberg family. The bank was founded by A. O. Wallenberg in 1856, and after his death in 1886 he was succeeded by his son, K. A. Wallenberg. A younger halfbrother, Marcus. became active in the bank from 1890, first as company lawyer, then from 1892 as assistant managing director and from 1911 as managing director. Later he also became successively vice-chairman and chairman of the board of directors. The two brothers dominated the bank's activities for many years. It is the younger brother whose comprehensive biography Torsten Gardlund has composed at the bank's request.