Erik Penser Swedish financier and businessman Date of Birth: 22.08.1942 Country: Sweden

1. Biography of Erik Penser
2. Success and Influence
3. Financial Setbacks
4. Recovery and Current Endeavors
5. Personal Life and Collections

Biography of Erik Penser

Erik Penser, a Swedish financier and businessman, was born on August 22, 1942, in Eslöv, Skåne. He studied law at Lund University, after which he began his career as a stockbroker at Bankirfirman Langenskiöld, later known as Carnegie Investment Bank. Working alongside Thomas Fischer, Penser played a crucial role in the intensive development of Bankirfirman Langenskiöld, which laid the foundations for his own wealth accumulation.

Success and Influence

Penser implemented a risky strategy to amass his fortune. He purchased shares in various companies, using them as collateral to borrow even more money for investments in different enterprises. Eventually, he gained control of several major companies on the Stockholm Stock Exchange. During the 1980s, Penser became one of the most influential businessmen in Sweden. His holding company, Yggdrasil, controlled Nobel Industrier, a leading European manufacturer of specialty industrial chemicals, paints, and adhesives, as well as Finans AB Gamlestaden.

Financial Setbacks

However, the Swedish banking crisis of 1990-1994 led Penser to lose his holding in Yggdrasil. The bank Nordbanken, part of the financial group Nordea, acquired the holding for a symbolic amount of one Swedish crown due to the harsh business conditions. Björn Wahlström, the chairman of Nordbanken, announced during a press conference that Erik Penser had fallen into poverty and ended his career as a businessman. This operation sparked a lengthy legal dispute between Penser and Nordbanken.

Recovery and Current Endeavors

In 1992, Penser regained control of Yggdrasil for one Swedish crown. Jacob Palmstierna, the deputy chairman of Nordbanken, admitted that Penser was under immense pressure when he was forced to sign the agreement with the bank. Since then, Penser has been able to recover approximately 1 billion Swedish crowns. In Sweden, his deposits are held in the private and independent Erik Penser Bankaktiebolag. He is involved in corporate finance, trading, scientific research, and private capital management. Additionally, he owns the consulting firm Pensum, which handles insurance and pension matters.

Personal Life and Collections

Since 1976, Penser has resided in the English village of Compton Beauchamp. He is a well-known collector, with a particular interest in antique share certificates, movie posters, magazines, and banknotes.