A new industrial alliance, Nordic Compass, has brought together over 25 Nordic corporations, foundations, and organizations to bolster the competitiveness of the Nordic region and Europe. Jacob Wallenberg, Chairman of Investor AB, is among the board members and highlights several strategic advantages:
- Given that some of the world's most innovative companies are based in the Nordics, we possess significant potential to better leverage our collective strengths and collaborate to drive increased growth together, he stated in a press release.
The alliance's focus during its inaugural year will center on capital markets, deep tech, defense, and energy. The board is chaired by former Finnish Prime Minister Jyrki Katainen, with Kristin Skogen Lund serving as vice chair.
The first set of initiatives is scheduled to be unveiled at the Nordic Compass Summit in Gothenburg this November.
Presently, Jacob Wallenberg holds the position of Chairman for Investor AB and Member of European Round Table of Industrialists. He is also Member of The Trilateral Commission, Member of The International Business Council and Investment Committee Member at Wallenberg Foundations AB and on the board of 9 other companies.
Mr. Wallenberg previously occupied the position of Chairman, President & Chief Executive Officer for Skandinaviska Enskilda Banken AB, Acting Chairman at W Capital Management LLC and Chairman of International Business Leaders Advisory Council.
He received an undergraduate degree and an MBA from The Wharton School of the University of Pennsylvania.
Investor Aktiebolag is a Sweden-based industrial holding company. Its operations are divided into three business segments: Listed Core Investments, EQT and Patricia Industries. The Listed Core Investments segment consists of listed holdings, which embrace ABB, AstraZeneca, Atlas Copco, Electrolux, Ericsson, Husqvarna, Nasdaq, Saab, SEB, Sobi and Wartsila. The EQT segment consists of the holdings in EQT private equity company. The Patricia Industries includes the wholly-owned subsidiaries, 3 Scandinavia and the former IGC portfolio, as well as all other financial investments, except EQT and the Company’s trading portfolio. The wholly-owned subsidiaries include Aleris, BraunAbility, Laborie, Molnlycke, Permobil, The Grand Group and Vectura.
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