Annual report for Carnegie Group

CEO Comments

When the market changes, we forge ahead with our ambition to deliver optimal advisory and products to our clients. In a market defined by high inflation and high interest rates, Carnegie strengthened its position as a financial adviser and delivered results on par with pre-pandemic years.

The market of record-high activity created in the wake of the pandemic and a long period of low interest rates turned 180 degrees in 2022 due to inflation and rising interest rates. Russia’s brutal invasion of Ukraine caused massive human suffering while heightening financial and geopolitical anxiety and exacerbating inflation and the rate of interest rate increases. Market forces swiftly recalibrated and the new conditions created lower investment appetite and falling stock markets.

The acquisitions of Carnegie Fonder and the Norwegian fund company Holberg in November were an important milestone during the year. The fund companies will continue as independent asset managers operating at arm’s length from the units within Carnegie Investment Bank, but together form the backbone of the fourth Carnegie business unit, Asset Management. With this new business unit, we offer a wider product range and generate a more diversified revenue stream that will increase the share of recurring revenue. On the whole, this strengthens the Carnegie brand while contributing to the long-term progress of the company.

Björn Jansson, CEO Carnegie Group

April 17 2023 Tony Elofsson took office as CEO of Carnegie Group. See news>

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