Jacob Wallenberg (born 13 January 1956) is a Swedish

banker A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because ...

and

industrialist A business magnate, also known as a tycoon, is a person who has achieved immense wealth through the ownership of multiple lines of enterprise. The term characteristically refers to a powerful entrepreneur or investor who controls, through perso ...

, currently serving as a board member for multiple companies. ''

The Guardian ''The Guardian'' is a British daily newspaper A newspaper is a periodical publication containing written information about current events and is often typed in black ink with a white or gray background. Newspapers can cover a wide ...

'' has once quoted him as the prince in Sweden's royal family of finance.

Biography

Early life

Wallenberg was born in 1956 in Stockholm. His father,

Peter Wallenberg, Sr. Peter "Pirre" Wallenberg Sr. (29 May 1926 – 19 January 2015) was a Swedish business leader who was chairman of Investor AB for ten years. Early life and education Wallenberg was born in Skeppsholm Parish, Stockholm, Sweden, into the Wallen ...

, was a banker. His mother is Suzanne Fleming Grevillius. He is a member of the prominent Swedish

Wallenberg family The Wallenberg family is a prominent Swedish family, Europe's most powerful business dynasty. Wallenbergs are noted as bankers, industrialists, politicians, bureaucrats, diplomats and military. The Wallenberg sphere's holdings employ about 60 ...

.Jane Martinson
Jacob Wallenberg £11bn prince in Sweden's royal family of finance
''

'', 16 June 2006

Education

Wallenberg holds a B.Sc. Economics and

M.B.A. A Master of Business Administration (MBA; also Master's in Business Administration) is a postgraduate degree focused on business administration. The core courses in an MBA program cover various areas of business administration such as accoun ...

from the

Wharton Business School The Wharton School of the University of Pennsylvania ( ; also known as Wharton Business School, the Wharton School, Penn Wharton, and Wharton) is the business school of the University of Pennsylvania, a private Ivy League research university in ...

University of Pennsylvania The University of Pennsylvania (also known as Penn or UPenn) is a private research university in Philadelphia. It is the fourth-oldest institution of higher education in the United States and is ranked among the highest-regarded universit ...

. Wallenberg attended the Royal Swedish Naval Academy and is today an Officer in the Royal Swedish Naval Reserve.

Career

Jacob Wallenberg was the Chairman of

Skandinaviska Enskilda Banken Skandinaviska Enskilda Banken AB (, abbreviated SEB, is a northern European financial services group headquartered in Stockholm, Sweden. In Sweden and the Baltic countries, SEB has a full financial service offering. In Denmark, Finland, Norway, ...

. (SEB) from 1998 to 2005 and Vice Chairman from 2005 to 2014. He was the CEO of the Bank in 1997 and EvP and in charge of Corporate and Investment banking 1995-1996. Wallenberg has been Vice Chairman of

Atlas Copco Atlas Copco (Copco from Compagnie Pneumatique Commerciale) is a Swedish multinational industrial company that was founded in 1873. It manufactures industrial tools and equipment. The Atlas Copco Group is a global industrial group of companies h ...

SAS Group SAS AB (Scandinavian Airlines System Aktiebolag), trading as SAS Group, is an airline holding company headquartered in the SAS Frösundavik Office Building in Solna Municipality, Sweden. It is the owner of the airlines Scandinavian Airlines a ...

Stora Enso Stora Enso Oyj (from sv, Stora and fi, Enso ) is a manufacturer of pulp, paper and other forest products, headquartered in Helsinki, Finland. The majority of sales takes place in Europe, but there are also significant operations in Asia and ...

and served on the board of

The Coca-Cola Company The Coca-Cola Company is an American multinational beverage corporation founded in 1892, best known as the producer of Coca-Cola. The Coca-Cola Company also manufactures, sells, and markets other non-alcoholic beverage concentrates and syrup ...

,Jacob Wallenberg
presentation at

's website, accessed on 2012-10-30

Electrolux Electrolux AB () is a Swedish multinational home appliance manufacturer, headquartered in Stockholm. It is consistently ranked the world's second largest appliance maker by units sold, after Whirlpool. Electrolux products sell under a variet ...

, WM-data an
Stockholm Chamber of Commerce
Jacob Wallenberg is Chairman of the Board of

Investor AB Investor AB is a Swedish investment and ''de facto'' conglomerate holding company. It was founded in 1916 and is still controlled by the Wallenberg family through their Foundation Asset Management company FAM. The company owns a controlling s ...

, a lead shareholder of Nordic-based global companies. He is Vice Chairman of

ABB ABB Ltd. is a Swedish-Swiss multinational corporation headquartered in Zürich, Switzerland. The company was formed in 1988 when Sweden's Allmänna Svenska Elektriska Aktiebolaget (ASEA) and Switzerland's Brown, Boveri & Cie merged to create ...

, Ericsson AB,

FAM AB Foundation Asset Management AB is a Swedish foundation asset management company, founded by the three largest Wallenberg foundations in order to manage the assets of the foundations, by means of direct ownership as well as through management and ...

an
Patricia Industries
Wallenberg also serves on the Board of

Nasdaq Inc Nasdaq, Inc. is an American multinational financial services corporation that owns and operates three stock exchanges in the United States: the namesake Nasdaq stock exchange, the Philadelphia Stock Exchange, and the Boston Stock Exchange, and ...

Knut and Alice Wallenberg Foundation Knut and Alice Wallenberg Foundation (KAW) ( sv, Knut och Alice Wallenbergs Stiftelse) is a Swedish public and private foundation formed in 1917 by Knut Agathon Wallenberg and his wife Alice Wallenberg. It was created to support research in the n ...

and a couple of other Wallenberg Foundations and

Stockholm School of Economics The Stockholm School of Economics (SSE; sv, Handelshögskolan i Stockholm, HHS) is a private business school located in city district Vasastaden in the central part of Stockholm, Sweden. SSE offers BSc, MSc and MBA programs, along wit ...

. He is a member of the steering committee of

Bilderberg Group The Bilderberg meeting (also known as the Bilderberg Group) is an annual off-the-record conference established in 1954 to foster dialogue between Europe and North America. The group's agenda, originally to prevent another world war, is now def ...

, ERT, the

European Round Table of Industrialists The European Round Table of Industrialists, abbreviated ERT, is an advocacy group in the European Union consisting of some 50 European industrial leaders working to strengthen competitiveness in Europe. The group works at both national and Europe ...

and the advisory board of

Tsinghua University School of Economics and Management Tsinghua University School of Economics and Management (abbreviation: Tsinghua SEM; Chinese: 清华大学经济管理学院, ''qīng huá dà xué jīng jì guǎn lǐ xué yuàn ''), is the business school of Tsinghua University in Beijing, China ...

. He is also member of the

Trilateral Commission The Trilateral Commission is a nongovernmental international organization aimed at fostering closer cooperation between Japan, Western Europe and North America. It was founded in July 1973 principally by American banker and philanthropist David R ...

. Wallenberg is Honorary Chairman of IBLAC, the Mayor of Shanghai’s International Business Leaders Advisory Council.

Honours

FIN Order of the Lion of Finland 3Class BAR

Commander of the

Order of the Lion of Finland The Order of the Lion of Finland ( fi, Suomen Leijonan ritarikunta; sv, Finlands Lejons orden) is one of three official orders in Finland, along with the Order of the Cross of Liberty and the Order of the White Rose of Finland. The President o ...

*Commander of the Order of May, Argentina *Member of The

Royal Swedish Academy of Engineering Sciences The Royal Swedish Academy of Engineering Sciences or ''Kungliga Ingenjörsvetenskapsakademien'' (IVA), founded on 24 October 1919 by King Gustaf V, is one of the royal academies in Sweden. The academy is an independent organisation, which pro ...

(2000) *Honorary Doctor of Economics,

(2005) *Member of The

Royal Swedish Society of Naval Sciences The Royal Swedish Society of Naval Sciences ( sv, Kungliga Örlogsmannasällskapet, KÖMS), founded in 1771 by King Gustav III, is one of the Royal Academies in Sweden. The Society is an independent organization and a forum for navy and defence ...

(2006) * H. M. The King's Medal, 12th size gold medal on Seraphim Order ribbon (2007) *Honorary Doctor of Economics,

Hanken School of Economics Hanken School of Economics (Swedish language, Swedish: ''Svenska handelshögskolan,'' also known as Hanken) is a business school in Finland with two locations, Helsinki and Vaasa. Founded in 1909, it is the oldest business school in Finland, and o ...

, Helsinki, (2009) *SSE Research Award,

Institute for Research (2010) * JPN Kyokujitsu-sho 2Class BAR

Order of the Rising Sun, 2nd Class, Gold and Silver Star (2018) *

Legion of Honour The National Order of the Legion of Honour (french: Ordre national de la Légion d'honneur), formerly the Royal Order of the Legion of Honour ('), is the highest French order of merit, both military and civil. Established in 1802 by Napoleon ...

, France (2019)

References

{{DEFAULTSORT:Wallenberg, Jacob Living people 1956 births Directors of The Coca-Cola Company Members of the Steering Committee of the Bilderberg Group Swedish businesspeople

Jacob Jacob (; ; ar, يَعْقُوب, Yaʿqūb; gr, Ἰακώβ, Iakṓb), later given the name Israel, is regarded as a patriarch of the Israelites and is an important figure in Abrahamic religions, such as Judaism, Christianity, and Islam ...