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In Good Company with Nicolai Tangen

Chair SEB and Vice Chair Investor AB: Marcus Wallenberg: Family, Adaptability, and Long-Term Stewardship

In Good Company with Nicolai Tangen

Norges Bank Investment Management

In Good Company, Business, Norges Bank, Nicolai Tangen

4.8186 Ratings

🗓️ 2 October 2024

⏱️ 46 minutes

🧾️ Download transcript

Summary

What is the key to sustaining a 175-year legacy in business? How do you adapt to dramatic technological changes over generations? In this episode, Nicolai sits down with Marcus Wallenberg, Chair of SEB and Vice Chair of Investor AB, to delve into the remarkable history and enduring influence of the Wallenberg family. Since 1850, the Wallenberg dynasty has played a pivotal role in shaping Swedish industry, with stakes in global giants like Ericsson, Atlas Copco, and Electrolux. Marcus shares insights on the importance of adaptability, the family`s unique approach to long-term stewardship, and the values that have guided them through

generations. Discover how the Wallenberg foundations are driving innovation through cutting-edge research and education and learn about the challenges and opportunities in modern corporate governance. This episode is a deep dive into the principles of leadership, the power of a strong network, and the future of Swedish innovation. Tune in!


The production team for this episode includes PLAN-Bs Pål Huuse and Niklas Figenschau Johansen. Background research was conducted by Isabelle Karlsson and Eirik Omre.




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Transcript

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0:00.0

Hi everyone. Today I'm in a seriously good company with Marcus Wallenberg, who is the chair of

0:06.6

SEB banking and vice chair of investor AB, both really important companies in the Wollongberg family.

0:14.1

Now, for those of you who are not familiar with the Wollonbergs, they control and have influence

0:19.4

over companies such as Erickson, Atlas Copco, Electrolux, Astra, ABB, Essie Banking.

0:25.6

And this journey started back in 1850. Incredible.

0:30.1

So, Marcus, what a pleasure to have you here.

0:32.4

Thank you. It's great to be here with you.

0:46.3

What's the key to survive for 175 years?

0:52.3

Well, there are many aspects, of course, with that. But perhaps the most important thing, or one of the most important

0:57.8

things would be that you are ready to adapt with the times. I think that is a very important part of it.

1:06.2

And what's been the most important adaptions you've done, you think? Well, you know, I think that if you think about 175 years back, you will, of course,

1:17.6

very quickly come to such things as dramatic technological change.

1:22.6

Gone through the times of the steam engine, the electrification, now we have the internet that we

1:29.8

just passed, now we're in the age of AI. The wish and the drive to change for the times is in a very,

1:38.3

very important aspect. What part of the Wollberg legacy I are you the most proud of?

1:45.0

The fact that we are able to be here as a family, to work together in our family is very important.

1:58.0

I think that is perhaps one of the things that we can be proud of,

2:03.6

that we've been able throughout the generations to do that. I think also that we have the

2:10.6

possibility to not only work with companies but also to support research and education is an important

2:22.5

aspect of what has been done. Capitalism looks very different in the Nordic countries. So in Denmark,

2:30.2

you have foundations in Norway. The state is very important with part ownerships and in

2:35.8

Sweden of course you and a couple of the families are very important for long-term ownership

...

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