Carnegie Investment Bank

Carnegie Investment Bank

Type	Privately held company
Industry	Banking Financial services
Founded	1803
Founder	David Carnegie, Sr.
Headquarters	, Sweden
Key people	Arne Liljedahl, Chairman Frans Lindelöw, CEO
Products	Investment banking Brokerage Equity research Wealth management
Number of employees	900 (3Q 2010)
Website	www.carnegie.se

Carnegie Investment Bank AB is a Swedish financial services group with activities in securities brokerage, investment banking, asset management and private banking.

Founded in 1803, Carnegie is headquartered in with offices across the Nordic region, as well as in London, New York City, Luxembourg and Geneva. The company has market leading positions in equities research and brokerage, corporate finance advisory and private wealth management. Carnegie’s customers include institutional investors, corporates, financial institutions, private equity firms, governments and high-net-worth individuals. In 2008 Carnegie had revenues of SEK 2.7 billion and as of 31 December 2008 assets of SEK 14.8 billion. Assets under management amounts to SEK 110 billion and the number of employees is approximately 900 as of 3 September 2010.

In the wake of the economic crisis of 2008 Carnegie Investment Bank AB was nationalized on November 10, 2008. In May 2009, the bank was acquired in a joint venture by the private equity company Altor Equity Partners and the investment company Bure Equity. The ambition is to re-establish Carnegie as the leading independent investment bank in the Nordic region.

Carnegie was established as a trading company in 1803 when David Carnegie, Sr., a Scotsman, founded D. Carnegie & Co AB in Gothenburg. The management of the company was later succeeded by Carnegie's nephew, David Carnegie 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 David Carnegie, Sr. died in 1890, Ekman inherited a substantial amount of shares and obtained majority ownership of the company. In 1907 the company was once again taken over, this time by Ekman's son-in-law Karl Langenskiöld, whereupon the formerly brewing and sugar businesses were divested. In the wake of the Kreuger crash, Langenskiöld founded a brokerage business in his name, Bankirfirman Langenskiöld, which is the foundation that the Carnegie of today rests upon.