S.e.b. history

Skandinaviska Banken, literally the Scandinavian Bank, was a Swedish bank established in Gothenburg, in 1864.

Theodor Mannheimer, the first managing director of the new bank in Göteborg, and Henrik Davidson, who joined the bank's Stockholm staff when it opened an office there in 1865, had numerous contacts in Europe's financial centers.

Founded in 1884, Rowenta had long been at the forefront of ironing technology, introducing the world's first lightweight, thermostat-controlled electric irons in the first half of the 20th century.

1910: Skandinaviska merges with Skånes Enskilda Bank.

Three of Lescure's descendants, brothers Jean, Frédéric, and Henri Lescure, took over the family business in 1925, renaming it a year later as the Société d'Emboutissage de Bourgogne.

Incorporated: 1926 as Société d'Emboutissage de Bourgogne

The company is called Volvo, and the first car rolls out of the factory on 14 April 1927.

Creation of the limited liability partnership “Manufacture de Ferblanterie Lescure Petits Fils” between Jean and Frédéric Lescure, joined by Henri circa 1930.

In 1939 the bank changed its name to Skandinaviska Banken.

Shortly after 1945, the bank introduced a commercial information service, providing expertise on economic conditions in foreign countries along with information on their markets, customs, laws, and currency.

1949: Skandinaviska merges with Göteborgs Handelsbank.

In 1953, Société d'Emboutissage de Bourgogne introduced the world to the pressure cooker.

1956:Société Tefal is launched.

Rowenta also developed the first steam irons, revolutionizing ironing boards worldwide in 1957.

The United States debut of the company's products--renamed T-Fal for the United States market--came during the holiday season of 1960, at New York City's Macy's department store.

By the end of January 1961, the company was booking orders of nearly 5,000 per week; by the summer of 1961, the company was shipping more than a million pans each month.

In 1967, however, the company made its first move into the booming array of electric household products, when it introduced its own electric deep-fryer.

1968:Société Tefal is acquired.

S-E-Banken had also entered into a partnership in 1969 with Scandinavian Bank, a consortium bank based in London, which was flourishing.

Sweden's banking regulations, framed and reframed over the years to relieve budget deficits incurred by its "cradle to grave" social welfare system, had grown into a complex web of restraint by 1971.

1972 – Takeover of Calor and its German subsidiary S.E.B. establishes presence in England and the United States

1973:Company reincorporates as SEB S.A.

In 1974, S-E-Banken became the owner of Aktiv Placering A.B. in Stockholm.

1975:SEB attains listing on Paris stock exchange.

Skandinaviska Enskilda Banken took a giant step into a lucrative new market when it went international in 1976.

The next step was the formation of Skandinaviska Enskilda Banken (Luxembourg) S.A. Then, in 1979, S-E-Banken reached halfway around the world to establish a subsidiary in Singapore to handle Southeast Asian business, creating Skandinaviska Enskilda Banken (South East Asia) Limited.

The government next moved to allow Swedish banks to issue certificates of deposit, starting in 1980.

The following year, 1982, was a banner year for acquisitions.

Also in 1985, S-E-Banken formed a new division, Enskilda Fondkommission, in Stockholm, to conduct investment banking in Sweden in cooperation with Enskilda Securities in London.

That same year government controls on interest rates and lending volume were removed, an occasion one banker described as "liberation day." With controls removed and the economy booming, the big banks' profits virtually doubled during 1986.

In 1987, S-E-Banken opened additional facilities, notably Enskilda S.A., Paris, a subsidiary of London's Enskilda Securities.

First issued in October 1988 by the World Bank, the bond sold out immediately.

In 1990, the company began to experience a slow down in profits due to overexposure to bad loans.

Bjoern Svedberg was named CEO in 1992, becoming the third new leader in three years.

In early 1993, the company launched a restructuring program that included a major cost cutting program and a curtailing of international expansion.

The purchase of Diners Club Nordic in 1994 signaled the bank's return to its expansion strategy.

1996:Enters into joint venture to acquire Red Heart brand of irons (China).

During 1997, the bank began to reorganize its operations under the leadership of CEO Jacob Wallenberg.

1998: The company launches the SEB brand.

More than 75 percent of SEB's sales of FFr 11.11 billion (EUR 1.69 billion) in 1999 came from outside of France.

With more than 15 000 employees, Skandinaviska Enskilda Banken AB (SEB) is considered one of the top 2000 largest public companies in the world, according to Forbes.

SEB attempted to take its growth a step further in 2001 and announced merger plans with FöreningsSparbanken, or Swedbank, Sweden's second most-profitable bank.

While many in the European financial sector experienced problems related to an economic slowdown, SBE stood on solid ground. "The 'big four' banks," claimed a June 2003 article in The Banker, "remain profitable and are seen as a beacon of stability in a difficult period."

In 2017, SEB moved to new offices in Arenastaden, Solna.

How might Covid affect my studies in 2021-22?