Word: banken
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Dates: during 1971-1971
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Last week the Wallenbergs announced the creation of a bank befitting the rest of their empire. On Jan. 1, Stockholms Enskilda will merge with Sweden's second largest commercial bank, Skandinaviska Banken, to form Skandinaviska Enskilda Banken. The new bank will have assets of $4.2 billion, not quite large enough to rank among FORTUNE'S top 50 foreign banks but supreme in a country of 8,000,000 people. The two merging banks will disappear; Marcus Wallenberg, 72, will be chairman of the new enterprise, and his 47-year-old son Marc will be assistant managing director. Lars...
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