Marcus Wallenberg

Marcus Laurentius Wallenberg, Sr. (5 March 1864 – 22 July 1943) was a Swedish banker and industrialist. He was CEO of Stockholms Enskilda Bank (SEB) from 1911 to 1920.

Early life Wallenberg was born on 5 March 1864 in Stockholm, Sweden, the son of André Oscar Wallenberg and his second wife . He had thirteen full siblings, including brothers Gustaf (1863–1937), (1872–1939), (1874–1963), and Victor (1875–1970), as well as four half-siblings, among them half-brother Knut Agathon (1853–1938).

Wallenberg became underlöjtnant in the Swedish Navy in 1882 but left his position the same year at the age of 18 and received a Candidate of Law degree from Uppsala University in 1888. He was appointed Master of Laws with court training in 1890.

Career

SEB In 1890, Wallenberg became ombudsman for Stockholms Enskilda Bank (SEB) and from 1892 belonged to the bank's executive board. He became vice chairman of the board of SEB in 1920 and then was its chairman from 1938 until his death in 1943.

Other businesses Wallenberg participated in the founding of (1899) and AB Emissionsinstitutet (1914). In addition, Wallenberg had been so intrigued by the promotion of Swedish industry that his name became intimately connected with its development in the first quarter of the 20th century. During his initiative and participation, several of Sweden's largest industrial facilities have either been founded or reorganized on an economic basis; in addition, he has promoted the achievements of Swedish industry abroad. Among such contributions from Wallenberg's side can be mentioned the founding of (1895), Svenska Dieselbolaget (1898), Svensk-Dansk-Ryska Telefonaktiebolaget (1900) and Mexican Telefon AB Ericsson (1905).

Personal life On 19 August 1890, Wallenberg married Gertrud Amalia Hagdahl (1864–1959), the daughter of Charles Emil Hagdahl and Emilia Gylling on 19 August 1890.

Ancestry

Awards and decorations

Swedish

Foreign

Grand Cross of the Decoration of Honour for Services to the Republic of Austria

Honours Member of the Royal Swedish Academy of Sciences (1939) First Honorary member of the Royal Swedish Academy of Engineering Sciences (1920) Honorary member of the Federation of Swedish Industries (Sveriges Industriförbund)