Carnegie has been in business for 200 years. Our history began when the Scotsman David Carnegie Sr. founded the trading firm D. Carnegie & Co. in Gothenburg in 1803. During the first 40 years, the firm played a significant role in establishing the Swedish sugar and brewing industries. When David Carnegie Jr. died in 1890, ownership was transferred to Oscar Ekman, whose son-in-law Karl Langenskiöld took over the business in 1907.
Langenskiöld restructured the business, and in 1932, his son Carl Gustaf established the Langenskiöld banking firm for the purpose of managing the stock portfolio that constituted the family’s wealth. In a short time, the banking firm grew to become Sweden’s third largest stock broker. For several decades, the stock market was sluggish until in the late 1960s, Langenskiöld became the leading stock brokerage firm with its young and daring brokers who actively recruited customers with investment proposals.
In 1980, the Langenskiöld banking firm changed its name to Carnegie, and one of the stock brokers, Erik Penser, became its principal owner. Following international expansion with operations in Europe and New York, Carnegie was sold to PK-banken. During the 1990s, Carnegie was developed into the Nordic region’s leading investment bank.