Word: skandinaviska
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
DIED. Marcus Wallenberg, 82, head of the most powerful banking and industrial dynasty in Sweden and co-founder in 1972 of the Skandinaviska Enskilda Bank, now the most influential commercial bank in Sweden; of a viral infection; in Djurgården, Sweden. Part of the third generation of Wallenberg bankers who have been synonymous with Swedish business for more than a century, Marcus and his brother Jacob (who died two years ago) rebuilt Sweden's industrial strength after the Kreuger crash in 1932. Eventually taking control of such multinational giants as Electrolux, L.M. Ericsson and Saab-Scania, Wallenberg also...
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...
...signal a voluntary withdrawal of older members of the family from financial prominence. In dissolving 115-year-old Enskilda, the Wallenbergs will be dismantling the institution upon which their empire was founded. Only 7.3% of the stock of the new bank will be theirs; the rest will go to Skandinaviska and other Enskilda shareholders...
...Wallenbergs are now likely to become more powerful than ever. Skandinaviska, the other party to the bank deal, has interests in 28 major firms, which together employ some 100,000 Swedes. And one of those firms, Volvo, is the only industrial concern among Sweden's five largest that the Wallenbergs do not control...
...France's Banque Dupont will send a classic Eversharp desk set with two pens. Dujar-din, the cognac maker, is distributing an auto distress kit complete with blinking light. NK, Sweden's leading department store, sends out an LP record called "Music from Creative Sweden," while the Skandinaviska Bank distributes great straw plant baskets containing a miniature garden of Sweden's favorite Christmas indoor plants...