Jacob Wallenberg

Jacob "Juju" Wallenberg (27 September 1892 – 1 August 1980) was a Swedish banker and industrial leader. Wallenberg held various central positions in Stockholms Enskilda Bank. He was also chairman of the board of several companies, including Stora Kopparbergs Bergslag and Orkla Mining Company. From 1934 to 1944 he was a member of the Swedish governmental commission for trade with Germany.

Early life Wallenberg was born in Stockholm, Sweden, the son of Marcus Wallenberg Sr. and his wife Amalia (née Hagdahl) and brother of Marcus Wallenberg Jr. He grew up in Östermalm in Stockholm and spent many summers at Malmvik Estate in Lovön. The tradition in the family was patriarchal, but privately Jacob Wallenberg was subordinate to his mother, the matriarch Amalia, whose birthday the family still celebrates May 29 each year. He moved away from home only when he approached 30 years old, and then just upstairs in the house at Strandvägen 27. After six years of education at the Royal Swedish Naval Academy, He was CEO until 1946 and then vice chairman of the board from 1946 to 1950 and chairman from 1950 to 1969.

Wallenberg was in the early 1930s a board member of Vikmanshytte bruks AB, AB Diligentia, Stockholms Rederi AB Svea, Stockholm-Västerås-Bergslagens Nya Jernvägsaktiebolag, Göta kanalbolag AB, Investor AB, Wedevågs bruks AB, Svenska obligationskreditaktiebolaget AB, International Bk te in Amsterdam and Società Esercizi Telefonici. In the late 1930s, Wallenberg was chairman of the board of Svenska Tändsticks AB and board member of AB Diligentia, AB Obligations-Intressenter, AB Separator, AB Svenska Kullagerfabriken (SKF), Göta kanalbolag, Stockholm-Västerås-Bergslagens Nya Jernvägsaktiebolag, August Stenman AB, Svenska Personal-Pensionskassan, Svenska obligationskreditaktiebolaget AB, Wikmanshytte Bruks AB and Kreutoll Realization Co. He was also voting trustee in the International Match Realization Co. Ltd and was on the board of the National Institute of Economic Research (from 1937) and of the Maritime Museum in Stockholm (from 1939).

Wallenberg was in the mid-1940s chairman of the board of Svenska Tändsticks AB, Svenska Ostasiatiska Kompaniet, AB International Harvester Co. and August Stenman AB. and Stora Kopparbergs Bergslags AB.

Wallenberg was in the mid-1950s chairman of the board of Förvaltnings AB Providentia, AB Investor, AB International Harvester Co., Kemi-Intressen AB, Nordiska Kompaniet (NK), Stora Kopparbergs Bergslags AB, Svenska Diamantbergborrnings AB, AB Svenska Kullagerfabriken, AB Svenska Ostasiatiska Kompaniet, Svenska Tändsticks AB and Wifstavarfs AB, the Royal Swedish Yacht Club (KSSS). He was vice chairman of the board of Försäkrings AB Skandia-Freja, Göta kanalbolag and Orkla Gruve AB. Wallenberg was board member of AB Iggesunds Bruk, Kopparfors AB, AB Separator, August Stenman AB, Wikmanshytte Bruks AB, the Nobel Foundation and the Knut and Alice Wallenberg Foundation. In the late 1960s, Wallenberg was also chairman of the board of Bergvik & Ala AB. He was a board member of AB Iggesunds Bruk, Nordiska Kompaniet (NK), Skandia, Göta kanalbolag, Wikmanshytte Bruks AB, the Nobel Foundation (from 1952), the Knut and Alice Wallenberg Foundation and King Gustaf V's Jubilee Fund. Wallenberg was treasurer of the Cancer Society in Stockholm.

Personal life Memorial to Jacob Wallenberg in the entrance hall of SEB's headquarter in Stockholm.

Wallenberg remained unmarried during his life.

Wallenberg donated a major part of his fortune to two foundations: the Marcus and Amalia Wallenberg Memorial Fund Foundation (Stiftelsen Marcus och Amalia Wallenbergs Minnesfond), which he named to honor his parents, as well as the Jacob Wallenberg Foundation, the Special Fund (Jacob Wallenbergs Stiftelse, Särskilda Fonden). After the death of his parents, Wallenberg inherited Malmviks Estate in Lovön, which became one of his permanent homes. In 1978 he donated Malmvik Estate to the Marcus and Amalia Wallenberg Memorial Fund Foundation. He was chairman of the Royal Swedish Yacht Club (KSSS) for many years and initiated in 1962 Jacob Wallenberg's Naval Academy Fund (Jacob Wallenbergs Sjökrigsskolefond) for the education of students at the Royal Swedish Naval Academy.

Foreign

Honorary member of the Royal Swedish Yacht Club (1952) Member of the Royal Society of Sciences in Uppsala (1955) Honorary Doctor of Economics, Stockholm (1956) Honorary member of the Royal Swedish Academy of Engineering Sciences (1957) Honorary Doctor of Medicine, Stockholm (1960) Member of the Royal Swedish Academy of Sciences (1961) Honorary member of the Royal Swedish Academy of Letters, History and Antiquities (1972)