Bengt Frökenberg, "Eduard Ludendorff", 1821
Eduard Ludendorff (1790-1824) came to Gothenburg from Stettin at the age of 18. He began his career as a commercial accountant, but only three years later became a wholesaler and partner in the firm of Ungewitter, Ludendorff & Co.
Business activities included the export of home-made malt, German rye, Norwegian herring, coffee and tobacco. Ludendorff was also part owner of a steamship and owned Kollered's mill and a sailing ship. In 1820, he opened Sweden's first savings bank at Västra Hamngatan 15 in Gothenburg. Poverty was widespread and the view was that the need for poor relief could be reduced if the poor were given the opportunity to save money. Customers also received interest on their savings accounts. In the beginning, Eduard Ludendorff managed the savings bank's accounts himself and welcomed customers who wanted to save in the bank.
Eduard Ludendorff died in 1824, aged just 34, of dropsy, probably due to a heart condition.
The portrait was painted in 1821 in the gouache technique by Bengt Frökenberg (1776-1845), a decorative painter and councillor in Linköping.
