Word: enskilda
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Though second in size to the Svenska Handelsbanken and less renowned than the Wallenbergs' Enskilda Bank (TIME, June 7, 1963), Skandinaviska has long been Sweden's foremost international bank and is widely regarded as its most modern and creative financial institution. In its earliest major deals a century ago, it raised money in Germany for Sweden's infant railroad and financed Swedish iron and timber ex ports. Skandinaviska also bankrolled the worldwide ventures of Swedish Match King Ivar Kreuger to the tune of $65 million, and his collapse in the 1930s almost brought the bank down...
...Germans' reputation as Europe's Arbeitstiere, or workhorses, is hardly deserved. So indicate recent surveys of European working hours, vacations and holidays released by the Stockholms Enskilda Bank of Sweden and the International Labor Organization. The Germans now work 15% fewer hours than they used to, and have signed agreements to reduce their present 44.7-hour week to 40 hours by 1966. In fact, the trend throughout Europe is clearly toward shorter hours for the workers...
Within the black granite walls of the Stockholms Enskilda Bank is a coat of arms that bears a sober motto, borrowed from Aeschylus: Esse non Videri - to be, not to seem. In line with this injunction, the family that runs the bank has become the most powerful and wealthiest in Sweden, without seeming to be the fiscal princes they...
Sweden for Swedes. The Wallenberg who started it all was André, who visited the U.S. and Scotland as a young naval lieutenant, became fascinated by banking and founded Stockholm's first commercial bank in 1856. His Enskilda Bank became the chief funnel through which foreign capital entered Sweden, and André and the succeeding Wallenbergs directed the flow of foreign funds to finance Swedish industrialization...
...many boards is that I've been around so long." Marcus is even more self-effacing: "I am nothing," he says, "but a hyphen between generations." In one sense, he is right. His son Marc, 38, has already taken over the presidency of the Enskilda Bank, and is being groomed to be the next head of the clan...