Carnegie Investment Bank
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| Carnegie | |
 |
|
| Type | Public |
|---|---|
| Founded | 1803 |
| Headquarters | Stockholm, Sweden |
| Key people | Christer Zetterberg, Chairman Stig Vilhelmson, CEO |
| Industry | Finance |
| Website | www.carnegie.se |
Carnegie Investment Bank AB is a Swedish company which specialises in stockbroking, investment banking and asset management.
[edit] History
Carnegie was founded in 1803 when David Carnegie, a Scotsman, founded D. Carnegie & Co AB in Gothenburg. The company was later taken over by Carnegie's nephew, David Jr., who later returned to Scotland, leaving the company, which by then had considerable interests in brewing and sugar production, in the hands of Oscar Ekman. When Carnegie died in 1890, Ekman inherited a substantial amount of shares and took over the company. In 1907 the company was taken over by Ekman's son-in-law Karl Langenskiöld and the sugar interests were divested. In the wake of the Kreuger crash, Langenskiöld founded an investment bank called Bankirfirman Langenskiöld and the brewery interests was sold.
In 1980, the company changed its name to Carnegie. By this time, Erik Penser controlled the company. In 1988, Carnegie was taken over by what later became Nordea and stayed in their hands until 1994. Then a newly formed company Carnegie Holding bought the company. The new holding company was 55 % owned by British merchant bank Singer & Friedlander and 45 % owned by Carnegie's own employees. In 2001, Carnegie Holding company was merged with D. Carnegie & Co, making that the parent company in the Carnegie Group and Carnegie was thus listed on the Stockholm Stock Exchange.
Since 2004, business is operated through Carnegie Investment Bank.
[edit] Organisation
The company is divided into divisions of investment banking, private banking, asset management and securities.
Stig Vilhelmson replaced Karin Forseke as Chief Executive Officer in 2006. At the same time Lars Bertmar, a former Carnegie CEO, resigned as Chairman of the Board of Directors. Christer Zetterberg replaced him.
Outside Sweden, Carnegie operates in Norway, Denmark, Finland, Luxembourg, Switzerland, the United Kingdom and the United States.
[edit] Ownership
20 % of Carnegie is held by the Icelandic bank Landsbanki, after that the second largest shareholder is still the employees of the company.
