André Oscar Wallenberg, Stockholms Enskilda bank
The medal depicts André Oscar Wallenberg (1816-1886) Swedish banker and naval officer.
During the second half of the 19th century, individual banks began to develop into more modern commercial banks. André Oscar Wallenberg had already helped to found banks in both Sundsvall and Hudiksvall when he started the Stockholm Private Bank in 1856. What was new was that the banks' capital did not primarily come from issuing banknotes, but from deposits from customers in the bank. If savers undertook to keep their assets in the bank for a longer period of time, a higher interest rate was offered on savings accounts. Stockholms Enskilda Bank was one of the first banks in Europe to allow women to open accounts at the bank and was the first to employ women at the bank.
In 1864, Andre Oscar Wallenberg also co-founded the first banking company, Skandinaviska Kreditaktiebolaget (later Skandinaviska banken). Stockholms Enskilda Bank and Skandinaviska Banken merged in 1972 to form Skandinaviska Enskilda Banken, abbreviated SEB.
The obverse side (front) of the medal shows Andre Oscar Wallenberg in profile and the reverse (back) shows Stockholms Enskilda Bank's first premises, the bank building at Lilla Nygatan 23 in Stockholm's Old Town. The engraver of the medal is Lea Ahlborn.
