Carnegie Investment Bank facts for kids
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| Privately held company | |
| Industry | Banking Financial services |
| Founded | 1803 |
| Founder | David Carnegie, Sr. |
| Headquarters | Stockholm,  Sweden |
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Key people
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Anders Johnsson, Chairman Tony Elofsson, CEO |
| Products | Investment banking Brokerage Equity research Wealth management |
| AUM | SEK 166 billion (2020) |
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Number of employees
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600 (2Q 2019) |
Carnegie Investment Bank AB is a Swedish company that helps people and businesses with their money. They offer services like buying and selling stocks, helping companies with big money deals, and managing money for wealthy clients.
Carnegie was started in 1803 and has its main office in Stockholm, Sweden. They also have offices in other Nordic countries, London, New York, and Luxembourg.
The company is known for being very good at researching stocks, advising companies on money matters, and managing money for individuals. Their clients include large companies, banks, and people who have a lot of money. In 2018, Carnegie made about 2.4 billion Swedish Kronor. By 2020, they managed about 166 billion Swedish Kronor for their clients. Around 600 people worked there in mid-2019.
During the 2008 financial crisis, the Swedish government took over Carnegie Investment Bank to help it. In May 2009, two investment companies, Altor Equity Partners and Bure Equity, bought the bank together. Their goal was to make Carnegie the top independent investment bank in the Nordic region again.
In 2023, Carnegie bought the wealth management and corporate business parts of Erik Penser Bank. That same year, Carnegie also launched a new savings platform called Montrose. On October 21, 2024, DNB Bank A/S announced that they planned to buy Carnegie Holding AB and Carnegie Investment Bank AB.
Contents
Carnegie's Story
How it Started
Carnegie began as a trading company in 1803. It was founded by David Carnegie, Sr., a man from Scotland, in Gothenburg, Sweden. The company was first called D. Carnegie & Co AB.
Later, David Carnegie, Sr.'s nephew, David Carnegie Jr., took over the business. He eventually went back to Scotland. The company, which by then was involved in making beer and sugar, was left to Oscar Ekman. When David Carnegie, Sr. passed away in 1890, Ekman inherited many shares and became the main owner.
In 1907, Ekman's son-in-law, Karl Langenskiöld, took charge. He sold off the beer and sugar businesses. After a big financial crash known as the Kreuger crash, Langenskiöld started a new business called Bankirfirman Langenskiöld. This new company is the foundation of what Carnegie is today.
Becoming Carnegie Investment Bank
In 1980, the company got its original name back: Carnegie. At this time, a financier named Erik Penser was the main owner. In 1988, Carnegie was bought by a company that later became Nordea. It stayed with them until 1994.
In 1994, a new company called Carnegie Holding bought the bank. This new holding company was 55% owned by a British bank called Singer & Friedlander. The other 45% was owned by Carnegie's employees. In 2001, Carnegie Holding merged with D. Carnegie & Co. This made D. Carnegie & Co the main company of the Carnegie Group.
The company was listed on the Stockholm Stock Exchange, but it was removed when the government took over the bank. Since 2004, the business has been known as Carnegie Investment Bank.
How Carnegie is Organized
Carnegie is split into three main parts:
- Securities: This part does research on stocks, sells and buys them for clients.
- Investment Banking: This part advises companies on big financial deals and helps them raise money.
- Private Banking: This part manages money for individuals who have a lot of wealth.
Who Owns Carnegie Now
Because of the 2008 financial crisis, the Swedish National Debt Office took over Carnegie Investment Bank AB on November 10, 2008. This was done to stop the bank from going bankrupt. The bank had lent too much money to one client, a property owner named Maths O. Sundqvist.
In May 2009, the private investment company Altor Equity Partners and the investment company Bure Equity bought the company.
On September 3, 2010, Carnegie announced that it would buy HQ Bank. This was a smart move to make its private banking division even stronger.
See also
- Carnegie Art Award
