The Wallenberg booklet "About us – A few words about what we do and what we stand for" is a presentation of the collective activities and businesses associated with the Wallenberg family of Sweden.
The Wallenberg family has actively worked in the service of enterprise since 1856 and supported research in Sweden since 1917. This page gives you an overall picture of the family's activities and values.
Welcome to Wallenberg.com
The Wallenberg family has actively worked to support enterprise and research in Sweden and internationally ever since André Oscar Wallenberg founded Stockholms Enskilda Bank (SEB) 160 years ago. Today, the fifth generation is continuing this tradition. The Wallenberg sphere currently comprises some ten non-profit foundations – the Wallenberg Foundations – and the industrial holdings companies Investor AB and FAM AB and their respective holdings.
These companies include some of Scandinavia's largest and most important blue-chip corporations, such as ABB, AstraZeneca, Atlas Copco, Electrolux, Ericsson, EQT, Höganäs, Mölnlycke Health Care, Nasdaq, Saab AB, SAS, SEB, SKF, Stora Enso and Wärtsilä. The ownership of these companies lies with the Wallenberg Foundations through the majority owned and publicly listed Investor AB and wholly owned FAM AB.
The sender of this website is not a company, organization or other type of legal entity. The text constitutes an independent description of the holdings and activities that the Wallenberg family is associated with. Here are a few links to other related websites to the Wallenberg family: the Wallenberg Foundations, Wallenberg Foundations AB, Investor AB and FAM AB. For more information about Raoul Wallenberg please visit: Raoul Wallenberg Academy
Overview of activities
ACTIVITIES: THE WALLENBERG FOUNDATIONS, INVESTOR AND FAM
The family's activities are mainly connected to the Wallenberg Foundations, Investor AB, FAM AB and their associated holdings, which are described below. SEB, founded by A.O. Wallenberg in 1856, continues to play a central role in the family's activities.
The family's activities are directed by core values and a number of guiding principles that have evolved over the past 160 years. Striving to achieve what is best for each individual company is the lodestar for all of the family's involvements.
FOCUSING ON BOARD WORK
The family bases its ownership philosophy on the Swedish model for corporate governance, in which the owners of company appoint the board, and expecially the chairman, which is significant for securing the right long-term strategy and the right leadership for a comapny. A number of key principles serve as the platform for the family's involvement in board work.
The diagram below outlines the holdings and their ownership structure.
FIVE GENERATIONS IN THE SERVICE OF ENTERPRISE
Over the course of Sweden's modern history, the Wallenberg Family has been involved in financing, entrepreneurship and philantrophic activities to promote and advance industry, services and globalization. The family's history all began with André Oscar Wallenberg (1816-86), who decided to leave his career as a naval officer to capitalize on the new wave of entrepreneurship that he had witnessed evolving in other countries...
For 160 years, members of the Wallenberg family have been involved in family-related businesses. Here an extract from the Investor anniversary book on eight members of the Wallenberg family and their engagements.
Jacob Wallenberg is Chairman of Investor AB, Vice Chairman of FAM and Patricia Industries, and Director on the board of the Knut and Alice Wallenberg Foundation. He is also actively involved in the airline industry, the telecommunications industry, and the power and automation technology industry as Vice Chairman of SAS, Ericsson and ABB. Jacob holds an MBA degree from the Wharton Business School at the University of Pennsylvania.
Marcus Wallenberg is Chairman of FAM and Patricia Industries, and Vice Chairman of Investor AB and Knut and Alice Wallenberg Foundation. He is also involved in banking and finance, the defense industry and the pharmaceutical industry as Chairman of SEB and Saab AB, and as Director on AstraZeneca's board. Marcus holds a Bachelor of Science degree in Foreign Service from Georgetown University.
Peter Wallenberg Jr
Peter Wallenberg Jr is Chairman of Wallenberg Foundations AB, the Knut and Alice Wallenberg Foundation and the Marianne and Marcus Wallenberg Foundation. He is also involved in the engineering industry, the healthcare sector, private-equity and the hotel business as Director on the boards of Atlas Copco, Scania, Aleris, EQT Holdings AB and as Chairman of Grand Hôtel Stockholm. Peter Jr holds a BSBA in Hotel Administration from the University of Denver.
Under leadership of Peter Wallenberg Jr and Celia Pilkington, a program has been established to allow the approximately 30 members of the sixth generation to learn more about the family's engagements, values and history. The program aims to create a solid platform for the next generation to take over the baton and is being given top priority by the family.
Andrea Gandet is Director on the board of the Marcus and Amalia Wallenberg Foundation. She holds a Bachelor degree in Hotel Administration from Ecole hôtelière de Lausanne.
Caroline Ankarcrona is Director on the boards of the Knut and Alice Wallenberg Foundation and the Marcus and Amalia Wallenberg Foundation. Caroline heads the project "Resource efficient business models – increased competitiveness" at the Royal Swedish Academy of Engineering Sciences. She holds a Master of Laws degree from Lund University.
Mariana Risberg is Director on the board of the Marianne and Marcus Wallenberg Foundation. She holds a Bachelor of Business Administration degree from Stockholm University.
Peter Wallenberg (1926-2015) passed away on January 19, 2015. At the time of his passing he was Honorary Chairman of the Knut and Alice Wallenberg Foundation, Investor AB and Atlas Copco.
Fagerfjäll, Roland. Den förlorade sonens återkomst: Peter Wallenberg 1926-2015. ISBN 9789187391965. Stockholm 2015.
Only available in Swedish.
A number of books have been written about members of the Wallenberg family. Some have been financed partly or completely by The Foundation for Economic History Research within Banking and Enterprise. The Foundation has approximately 2 000 running meters of records and documents, of which most originate from Stockholms Enskilda Bank (1856-1971).
Wetterberg, Gunnar. Wallenberg – The Family that Shaped Sweden’s Economy. ISBN 978-91-7844-898-2. Möklinta 2014.
André Oscar Wallenberg founded Stockholms Enskilda Bank, which has become one of Sweden’s major banks, in the mid-19th century. After a banking crisis in 1878-79, two of his sons, Knut and Marcus Sr, managed to restore the family’s sphere. When other banks and investment companies had been seriously hit by two world wars and the intervening collapse of Ivar Kreuger’s enterprises, the Wallenbergs were best fitted for the prosperous post-war era. They soon dominated Sweden’s financial world as well as its expanding export industry.
In Wallenberg – The Family that Shaped Sweden’s Economy, Gunnar Wetterberg traces the history of an outstanding Swedish family. He tells of political complications and financial brainwaves and presents the family’s leading men and their feuds. Wetterberg relates the history of the Wallenbergs as a financial dynasty, intertwined with Sweden’s development into a modern industrial nation. In no other country has a single family had such a strong and multi-facetted position for so many years.
Lindgren, Håkan. Jacob Wallenberg 1892-1980. Swedish Banker and International Negotiator. Translation by Lars G. Sandberg. ISBN 978-91-7353-317-1. Stockholm 2009.
JACOB WALLENBERG’s life is a slice of 20th century history. During his eighty-eight-year lifespan, Sweden and the entire world changed drastically in almost every respect: in terms of economic structure, political system, social organization and media. Håkan Lindgren’s recounting of Jacob Wallenberg’s life emphasizes the human aspects of his being in an attempt to explain what molded Jacob as an individual.
The author also details Jacob Wallenberg’s professional career; his contributions to strengthening the family’s position in the Swedish business world and augmenting its fortune, as well as his efforts as an international negotiator, both before and during World War II. Newly obtained source material from Russian and German archives is used to cast additional light on both his private business dealings and Sweden’s relations with Germany. Thus, for example, the author provides new insights into the much discussed Bosch Affair as well as concerning Jacob Wallenberg’s contacts with the German resistance movement.
The year 1946 is an important milestone in Jacob Wallenberg’s life. In that year he left the post of Managing Director of the family bank in order to devote himself to the Wallenberg investment companies, Investor and Providentia. This well informed and carefully documented presentation has therefore been grouped around these two major phases of his life.
Olsson, Ulf Berättelsen om Gertrud ”Calle” Wallenberg. Mannerheims sista kärlek. ISBN 978-91-7353-704-9. Stockholm 2014.
Available only in Swedish.
This book about the Wallenberg financial dynasty, titled “The story of Gertrud “Calle” Wallenberg. Mannerheim's last love”, is different from the many biographies that have been written about the family. Gertrud (1895-1983) was the daughter of Marcus and Amalia Wallenberg and a relatively unknown woman. The book describes the family's position in Swedish society, and relationships between family members, from her point of view.
Gertrud Calle Wallenberg was 24 when she married Ferdinand Arco auf Valley in 1919 and moved to the count's castle in Austria. They would soon grow apart, and by the mid-1930s Calle lived by her own means, but not without entering a new relationship. She lived in Paris during the German occupation in the 1940s and was at the side of Gustaf Mannerheim until his life ended. Until her death in 1983, she lived in Monte Carlo.
As we read about the story of Gertrud's life, the destiny of Calle's three sisters is also described, giving the reader an idea of the social conditions for women in the Swedish upper class at the beginning of the last century. Gertrud Calle Wallenberg was a fearless and headstrong person who chose her own life path in a Europe characterized by the wars and crises of the 1900s.
Nilsson, Göran B. The Founder. André Oscar Wallenberg (1816-1886). ISBN 91-7203-397-5. Stockholm 2001.
ANDRÉ OSCAR WALLENBERG (1816-1886) was a Renaissance man who found himself in the wrong century. Already as a young teenager, this bishop's son from Linköping, Sweden, went to sea in order to meet a new world in the United States. As a naval officer, AOW later trained himself in "the young navy" as a politician and a banker. Then, in 1851, he left the straitjacket of his naval career to become a wholesale merchant and to live for the concept of banking as an idea.
In the world of banking, Wallenberg set about modernizing the old-fashioned Swedish system of credit along the lines of well-proven Scottish practices, while improving those practices in various ways. The founding of Stockholms Enskilda Bank (SEB) in 1856 was of crucial significance and provided an important model for other Swedish banks. But AOW was also able to rely on his extensive contributions to Swedish journalism, his rapid rise as the leader of the powerful liberal faction in the Estate of the Burghers within the nation's four-chamber Riksdag, and his good relations with Finance Minister J.A. Gripenstedt. Once new banking legislation that he had championed was enacted in 1864 and 1874, AOW was satisfied that he had established "the world's best banking system." In 1878-1879, however, both this system and the now Wallenberg family-dominated SEB found themselves in a deep crisis following a number of all too bold investments in railroads, iron foundries, and sawmill operations.
This crisis brought a close to AOW's grand career as a leading financier, politician and journalist during Sweden's liberal breakthrough, but, paradoxically, it marked the beginning of a new era of triumph for the Wallenberg family as a whole. The family had not initially welcomed the close cooperation between the bank and the large manufacturing firms it controlled, but it was precisely this cooperation that would provide the Wallenbergs with both profits and power in the future. For his part, AOW had laid a strong foundation for this future thanks to the very purposeful family policy that he and his wife Anna pursued so single-mindedly.
Olsson, Ulf. A Prince of Finance. K A Wallenberg 1853-1938. Swedish Banker, Statesman and Philanthropist. Translation by Pia Helena Ormerod. Edited by John Woolfenden. ISBN 978-91-7353-216-7. Stockholm 2007.
AT NUMBER 12 KOCKSGATAN. A little red cottage with white-painted corners in the south of Stockholm, a boy was born in May 1853. Knut Agathon was officially born out of wedlock, but in reality, was a member of a stable family. His father, AO Wallenberg, founder, among other things, of Stockholms Enskilda Bank, was an ambitious man and Knut’s future path was marked out for him at an early stage: boarding school, so that “he be brought up as God-fearing, upright and honest”; thereafter, training to become a naval officer, enrolment in a commercial academy, internship at Crédit Lyonnais in Paris, promotion to managing director at thirty-three and, twenty-five years later, elevation to chairman of the family bank. It was he who would nurse the bank back to financial health, following a serious crisis in 1878-1879, and create the unique Wallenberg tradition.
Knut Wallenberg’s life mirrors a period in history when Sweden developed into a wealthy industrial nation. Access to unique archive material has made it possible to closely capture the fascinating and controversial personality of Knut Wallenberg, who was not only leading banker, but also became Swedish foreign minister during the First World War.
Knut Agathon Wallenberg lives on today through the Foundation that bears his and his wife Alice’s names, and which is still one of the largest financers of research in Sweden.
Olsson, Ulf. Furthering a Fortune. Marcus Wallenberg. Swedish Banker and Industrialist 1899-1982. Translation by John Woolfenden and Björn Norrbom. ISBN 91-88595-94-3. Stockholm 2001.
MARCUS WALLENBERG was the most notable representative of Sweden’s industrial tradition during the twentieth century. He was active from the nineteen thirties until the nineteen seventies, during the period when the Swedish welfare state was being created. After the Second World War, he assumed responsibility for Stockholms Enskilda Bank, the Bank that, more than any other, functioned as financer and the center for new business enterprise within Swedish industry.
Furthering a Fortune is, first and foremost, an account of a life’s work. The question is, however, whether it is all possible to portray a person’s life in isolation from his or her profession. In the case of Marcus Wallenberg, it is quite through his practical actions that one comes closer to him.
Marcus Wallenberg inherited a fine tradition from his famous ancestors in the form of “the name and the bank”. This profoundly influenced him from early childhood. His path had already been staked out for him and he was placed directly under the tutorship of his father, Marcus Wallenberg Senior.
An important part of this biography is also the depiction of different eras. Sweden’s foreign policy during the Second World War, the shifts in ideologies and the regulation of the financial system create a necessary framework for understanding Marcus Wallenberg’s life. During the Second World War, he conducted trade negotiations and diplomacy at the highest level; he led and restructured many of Sweden’s largest companies and he was a banker with a modernizing approach. His contribution to Swedish banking culminated dramatically in the merger of the family bank and Skandinaviska Banken in the early nineteen seventies.
Towards the end of his life, he fought to retain control over the Wallenberg sphere and to ensure the continuation of the family’s heritage for future generations.
Fagerfjäll, Ronald. Investor 100 years - "To move from the old to what is about to come is the only tradition worth keeping". Translation by Ruth Urbom, Charlotte Merton and Patrick O’Malley. ISBN 978-91-7126-293-6. Stockholm 2016.
2016 marks the 100th anniversary of Investor AB. In conjunction with the anniversary, Investor publishes a book about the people, the companies and transactions, the events and the environment that have contributed to shape Investor during its first 100 years. The book is written by the author and journalist Ronald Fagerfjäll and is based on interviews with many key individuals within Investor and its network.
To the publishing house (link)
Financial Times; Meet the Wallenbergs
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Oscar Stege Unger
oscar.stege.unger [at] wfab.se
laura.bergtoft [at] wfab.se
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