Nils Wilhelm Erik Penser (born August 22, 1942) is a
Swedish
Swedish or ' may refer to:
Anything from or related to Sweden, a country in Northern Europe. Or, specifically:
* Swedish language, a North Germanic language spoken primarily in Sweden and Finland
** Swedish alphabet, the official alphabet used by ...
financier and businessman.
Penser was born in
Eslöv
Eslöv (; older da, Eslev) is a town and the seat of Eslöv Municipality, Skåne County, Sweden with 19,598 inhabitants as of 2018.
Eslöv is part of the Öresund Region.
History
According to a map from 1717, Eslöv village was originally loc ...
, Sweden, the son Wilhelm Penser, a lawyer, and Elisabeth (née Herrmann).
After having studied law at
Lund University, Erik Penser commenced a career as a stockbroker at ''Bankirfirman Langenskiöld'', which later became
Carnegie Investment Bank. Together with
Tomas Fischer he worked intensively to develop the firm's business, laying the foundation for his private wealth. Penser's strategy was risky; he bought shares, used them as collateral and borrowed even more money to leverage his holdings. Eventually he gained the controlling interest of several large companies on the
Stockholm Stock Exchange.
During the 1980s Penser was one of Sweden's most influential businessmen. Through his holding company,
Yggdrasil, he controlled both
Nobel Industrier
Akzo Nobel N.V., stylized as AkzoNobel, is a Dutch multinational company which creates paints and performance coatings for both industry and consumers worldwide. Headquartered in Amsterdam, the company has activities in more than 80 countrie ...
and
Finans AB Gamlestaden. His massive
financial leverage and the harsh business environment experienced during the
Swedish banking crisis in 1990–1994 forced Penser to cease control of his holdings, which were sold to Nordbanken (which became
Nordea) for the symbolic sum of SEK 1 each. At a press conference
Björn Wahlström, the chairman of Nordbanken, said that Erik Penser was 'destitute and finished as a businessman'. The transaction resulted in a prolonged legal dispute between Penser and Nordbanken.
In 1992 Penser regained control of Yggdrasil, the consideration was once again SEK 1. The vice Chairman of Nordbanken,
Jacob Palmstierna, admitted that Penser had been under extreme pressure when he was forced to sign the agreement with Nordbanken. Since then Penser has rebuilt an estimated net worth of SEK 1 billion, with interests in both Sweden and abroad. In Sweden, his main holdings includes
Erik Penser Bankaktiebolag, with activities in corporate finance, trading, research and private wealth management and
Pensum, an insurance and pension advisory firm. Erik Penser resides, since 1976, in
Compton Beauchamp, England.
Erik Penser is known as a distinguished
collector, collecting – amongst many objects – old share certificates, film posters, magazines and bank notes.
References
External links
Erik Penser Bankaktiebolag investment banking
1942 births
Living people
Swedish businesspeople
Swedish billionaires
Stockbrokers
{{Sweden-business-bio-stub