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Spring/Summer Edition 2014 www.bscc.info Editor: Cecilia Stråberg
Annika Winsth,
Nordea
continue p. 7
Jens Münch, iZettle
continue p. 7
Tom Johnstone, SKF
continue p. 9
Hans Stråberg,
Atlas Copco
continue p. 10
BSCC 60th Annual General
Meeting at the British
Ambassador’s Residence
”Deal-Making in a New World”
with Jan Olsson, Deutsche
Bank AG and Foreign Bankers’
Association, and Christer
Gardell, Cevian Capital AB.
Moderated by Paul Stone,
Bain and Co.
continue p. 11
BSCC Speakers Spring 2014
Nigel Salter, Salter
Baxter, and Toby
Webb, Ethical
Corporation
continue p. 8
H.E. Ambassador
Adam Hałaciński and
H.E. Ambassador
Paul Johnston
continue p. 9
EU Panel Debate
Jan-Eric Sundgren,
Volvo Group, Niclas
Bergström, Svenskt
Näringsliv, Nils
Lannefors, Alstom
Sweden, and Ian
Harcourt, RBS
continue p. 10
Page 2
The Chamber
Dear Members,
The Chamber has had a very exciting spring. We
have met a lot of members, new members and new
Patrons. This is a very active and exciting network,
which I hope you will all take the opportunity to
use!
The network has shared knowledge of: “CSR from
a management perspective”, “How to create productive partnerships
with universities” and “Corporate views on the EU”. To keep you up
to date on the political agenda, the H.E. Ambassador Paul Johnston
did a talk together with the Polish Ambassador about “European
security after Crimea”, which was much appreciated and followed by
a vivid discussion. It was a pleasure to also listen to Annika
Winsth, Jan Olsson, Christer Gardell, and Hans Stråberg.
This spring we formally also opened a Gothenburg Chapter with
Honorary Chapter Chairman Claes Berglund, Stena. We have hosted
two well attended event in Gothenburg during the spring; with H.E.
Ambassador Paul Johnston and Tom Johnstone.
We hope that you have already booked 3 November for the BSCC’s
60th anniversary celebration. We are working hard on our website at
the moment and we look forward to an up-dated site soon. Also, do
follow us on Instagram: BSCCSWE for the latest update on the
Chamber and its members.
I wish you a lovely, sunny, summer!
Kind regards,
Christina Liljeström
Upcoming Events Autumn 2014
August
18 Gothenburg Reception
September
8 BSCC Golf Tournament
16 Stella McCartney Store, Reception
24 ”Entrepreneurship vs Sailing” with
Robert Szabo, Matrisen
November
3 BSCC 60th Anniversary
10 Jan Johansson, SCA
12 Gothenburg Networking Event
December
2 Stockholm City Hall
tbc BSCC Christmas Drinks
Cecilia Stråberg
Marketing Coordinator
+46 76 281 52 35
Christina Liljeström
Secretary General
+46 70 850 84 45
Join us as the British-Swedish Chamber of Commerce celebrates
its 60th Anniversary at Grand Hotel in Stockholm.
The afternoon will begin with a panel discussion with senior
executives representing the financial sektor from Sweden and
the UK.
Following the afternoon seminar we will enjoy a Gala Dinner
and Award Ceremony at Grand Hotel. The Gala Dinner will
be full of surprises, high-profile guests and speakers, and much
more!
BSCC 60th Anniversary gives you a great opportunity to market
your company through our different sponsorship packages.
Please feel free to contact us if you would like to influence and
contribute in making this a magical evening.
Tickets are available from mid August. For more information,
please contact:
Christina Liljeström
Secretary General
christina.liljeströ[email protected]
BSCC Staff
Page 3
New Patrons 2014
Bank of America Merrill Lynch Contact: Thomas Westin Birger Jarlsgatan 13 SE-111 45 Stockholm, Sweden Tel: +46 8 459 12 80 www.baml.com
Cevian Capital AB Contact: Christer Gardell Engelbrektsgatan 5 SE-114 32 Stockholm, Sweden Tel: +46 8 545 675 50 www.ceviancapital.com
Whether it's raising capital in Mumbai, hedging
currencies in London or providing M&A advice in
Stockholm, the powerful combination of Bank of
America Merrill Lynch means we can do more for
our clients than any other financial services firm.
Our services include mergers and acquisition advice,
equity and debt capital raising, corporate lending, sales
and trading in fixed income, commodities, currency and
equities, risk management, research, and liquidity and
payments management.
Bank of America Merrill Lynch Facts:
$2.1 trillion in assets
$165 billion in market capitalization (Dec-13)
242,000 employees
Top 2 in Global Investment Banking Fees
$700 billion in capital raised for clients in 2013
Primary dealer in 15 countries with access to over 100 exchanges, trading more than 145 currencies
$42 billion daily cash equities trading volume
Unparalleled research coverage with nearly 700 analysts overing 3,400+ companies, 1,000+ corporate bond issuers across 60 countries and 25 industries
Named “World’s Best Investment Bank 2014” by Global finance
Long-term active ownership investor
Cevian Capital is a Northern European focused
long-term active ownership investor
Cevian Capital is a large active ownership investor
(approximately $15bn assets under management) founded
by Christer Gardell and Lars Förberg in 2002. Cevian
invests across Northern Europe, advised from offices in
Stockholm, Zurich and London. Cevian builds significant
ownership stakes in listed European companies and uses a
constructive active ownership approach to enhance
long-term value through improvements to corporate
governance, operational performance, corporate strategy
and structure.
Cevian is an advocate for strong corporate governance,
including being a signatory to the UK Stewardship Code
and working actively in the United Kingdom to promote
the benefits of the Swedish governance model.
Page 4
New Patrons 2014
Four-star deluxe Hotel Diplomat is set on the
shore of Stockholm’s water, on the elegant avenue
Strandvägen, between the natural scenery of
Djurgården and the vibrant city centre.
Timeless interior, designed by renowned architect
Per Oberg, combines an air of classic elegance with fresh,
modern elements.
The building, an iconic Art Nouveau palace dating back to
1911, was bought by Carl and Dagmar Bergsten, the great
grandparents of the hotel’s Chairman Anna Cappelen, in
1917.
The hotel restaurant T/BAR is one of Stockholms most
popular one’s, and a natural choice for local business
meetings, or for a glass of champagne following a hectic
shopping spree. The terrace during the warm season is a
crowdy, sunny spot with a beautiful view over Nybroviken
harbour.
In the 17th century, London's importance as a trade centre led to an increasing demand for ship and cargo insurance. Edward Lloyd's coffee house became recognised as the place for obtaining marine insurance and this is where the Lloyd’s that we know today began. From those beginnings in a coffee house in 1688, Lloyd’s has been a pioneer in insurance and has grown over 325 years to become the world’s leading market for specialist insurance. On the following pages you can learn about Lloyd's unique and colourful past, from its early days in Edward Lloyd’s coffee house, to the historical events that changed the face of Lloyd's forever. Unlike many other insurance brands, Lloyd's is not a company; it's a market where our members join together as syndicates to insure risk. When we talk of Lloyd’s, we’re really referring to two distinct parts. The market, which is made up of many independent businesses, and the Corporation of Lloyd’s, which is there – broadly speaking – to oversee that market. These parts are distinct, but far from independent.
Both work closely to maintain high standards of performance across the market.
The Lloyd’s market is home to 56 managing agents and 91 syndicates, which offer an unrivalled concentration of specialist underwriting expertise and talent. The majority of business written at Lloyd’s is placed through brokers who facilitate the risk-transfer process between clients (policyholders) and underwriters. Clients can discuss their risk needs with a broker, a coverholder or a service company. Specialist underwriters for each syndicate price, underwrite and handle any subsequent claims in relation to the risk. Lloyd’s Swedish office was established in 2009 and it oversees Nordic regions.
Lloyd’s Contact: Erik Börjesson Sveavägen 20, 6th floor SE-111 47 Stockholm, Sweden Tel: +46 8 545 255 40 www.lloyds.com
Hotel Diplomat Stockholm Contact: Anna Cappelen Strandvägen 7C Box 14059 SE-104 40 Stockholm, Sweden Tel: +46 8 459 68 00 www.diplomathotel.com
New Patrons 2014
Page 5
New Board Members 2014 New Members
BSCC New Board Members
Cohr Group is a human resources consultancy company specializing in psychological and business-related assessment for top executives and managers both regarding development and selection purposes all over northern Europe.
Since 2002, it has been our goal to add business value and aid and support strategic alignment and development by being long-term partners to our clients, offering them our core service, Executive Development Assessment and related services such as Management Team Development, Assessment Center, Coaching and Recruitment
Our head office is in Stockholm. We currently work all over Europe, focusing on the Nordics, the Baltics, Poland, Germany, the Netherlands and the UK. We also perform assignments in Russia, Ukraine, China and the US.
SCA is a leading global hygiene and forest products company
The Group develops and produces sustainable personal care, tissue and forest products. Sales are conducted in about 100 countries under many strong brands, including the leading global brands TENA and Tork, and regional brands, such as Libero, Libresse, Lotus, Nosotras, Saba, Tempo and Vinda. In the United Kingdom SCA also conduct sales under brands such as Bodyform, Cushelle, Plenty and Velvet. As Europe’s largest private forest owner, SCA places considerable emphasis on sustainable forest management. The Group has about 44,000 employees. Sales in 2013 amounted to approximately SEK 93bn (EUR 10.7bn). SCA was founded in 1929, has its headquarters in Stockholm, Sweden, and is listed on NASDAQ OMX Stockholm.
SCA in the Volvo Ocean Race
In recent years, SCA has undergone a journey of change with a number of acquisitions and divestments around the world. SCA’s participation in the Volvo Ocean Race plays an im-portant role in this journey of change and increasing the awareness and understanding of SCA. In 2012, SCA announced its participation with an all-female team, Team SCA, in the Volvo Ocean Race 2014-2015.
SCA Contact: Mats Berencreutz Box 200 SE-101 23 Stockholm, Sweden Tel: +46 8 788 51 00 www.sca.com
Cohr Group Contact: Jonathan Leicester Västmannagatan 4, 2nd floor SE-111 24 Stockholm, Sweden Tel: +46 8 411 64 55 www.cohrgroup.com
Peter Bodin
CEO,
Grant Thornton
Anna Cappelen
Chairman,
Hotel Diplomat
Pia Djupmark
Managing Director,
Grand Hôtel Stockholm
Johan Näs
Head of Corporate &
Institutional Banking
Sweden,
Nordea Bank AB
And, we would like to express our appreciation to stepped
down Board Members Hélène Hernmarck Olsson, Birgitta
Rydbeck Dinkelspiel and Birger Gezelius for all their
contribution to the BSCC throughout the years.
Page
New Members
JLT is one of the world's largest insurance brokers and the company is listed on the London Stock Exchange. JLTs employs over 9 000 staff and have offices in 36 countries. JLT's operations in Sweden started in 1997. Our core areas of insurance intermediation are in Crime & Liability Risks, Credit & Political Risks, Property & Business Interruption, Construction and Life Science. We also do Affinity, with specific focus on insurance for banks and other financial institutions as well as insurance relating to mergers and acquisitions. In our chosen areas, we've assembled a team of experts and operate a team based approach. In addition to many years of experience as insurance brokers, underwriters and claims adjusters, we have experience from law, economics, finance, auditing, industry and management consulting. Our niche strategy linked to our collective experience enables us to provide our clients a unique service with excellence.
To have a successful business is to have control over the
company’s finances and thus be able to plan ahead based on
reliable information. This is where Matrisen can help
contribute to the success of a business and something we are
passionate about. For over 20 years, Matrisen has served as a
partner in accounting and administration helping companies
to free resources and focus on their core business’. Matrisen
is all about helping create successful businesses.
Matrisen is one of Sweden’s leading providers of accounting, outsourcing, HR, payroll administration and financial advisory services. More than 3 000 companies worldwide has already chosen Matrisen as their partner. The head office is
situated in Stockholm and the company is also represented with 7 other offices throughout Sweden. www.matrisen.se
Sartor Consulting AB is a unique consulting firm that provides skilled resources in finance, economics, Swedish and international tax advice, business law and corporate governance. We provide consultants for shorter and longer missions. Through us, you get access to our network of carefully selected and qualified consultants with proven experience in a range of industries and various management positions. We work proactively and constantly updating our network of knowledgeable specialists who are available at short notice and who are open to new challenges in new environments. With the right experience for the job, a Sartor consultant to start work within 10 days or even rather as necessary, individually or in teams to assist organizations that need a qualified resource.
JLT Risk Solutions AB Contact: Caroline Hamilton Jakobsbergsgatan 7 SE-111 44 Stockholm, Sweden Tel: +46 8 442 57 30 www.jltrisk.se
Matrisen Redovisning & Rådgivning AB Contact: Daniel Eichhorn Luntmakargatan 49 SE-111 37 Stockholm, Sweden Tel: +46 8 506 59 100 www.matrisen.se
Sartor Consulting Contact: Maria Scheutz Tegnérgatan 35, 4th floor SE-111 61 Stockholm, Sweden Tel: +46 73 314 01 33
The world no longer tolerates electricity produced from fossil fuels, so the timing is right for power from a free, inexhaustible, and, readily available source - The Sun! United Sun Systems International Ltd (USSI) develops, manufactures and markets, a “Concentrated Solar Power, CSP Dish-Stirling system”, wherein the sun’s heat is collected by a parabolic reflective “solar concentrator”. The concentrated heat powers a Stirling engine which drives a generator. USSI was formed in 2010 with the ambition to supply the market with the most optimal CSP Dish-Stirling solution. In 2011, USSI bought the licenses to the best Stirling engine on the market, the V4-90. USSI and its associates have been involved in more than 80% of all CSP Dish-Stirling projects since the 1970’s. Because of rising energy prices during the last years and the Company’s long experience, the technology is now ready for the market. USSI will provide the global market with the most cost effective solar energy, 50% lower price than PV (Photo Voltaic) and 100% competitive to traditional fossil fuel, without subsidies.
United Sun Systems Sweden AB Contact: Magnus Millingen Kungsgatan 48A SE-411 15 Gothenburg, Sweden Tel: +46 31 17 00 00 www.unitedsunsystems.com
Page 7
Previous Events
Annika Winsth, Nordea Bank AB
Gothenburg Chapter
The first BSCC event of 2014 was a
breakfast seminar with Annika Winsth,
Chief Economist at Nordea Bank AB, on
the topic Economic Outlook for 2014.
The presentation was followed by an
interesting Q&A session.
Welcome to the UK
Annika Winsth and Gerhard Caspar
from Nordea Bank AB
Helena Trygg, Handelsbanken, Britt Ehrling,
Navigera AB, and Jenny Gardner, UKTI
Ulrik Swedrup, CV Search, and
Johanna Pettersson, Nordea Bank AB
Mats Bergquist, Former Ambassador to the UK, during
the Q&A session
On 31 January, the BSCC
together with Stena AB
and the British Embassy
organised a luncheon at
the Royal Bachelors Club
in Gothenburg. Guest of
Honor and Speaker was
H.E. Ambassador Paul
Johnston.
Claes Berglund, Honorary
Chapter Chairman for the
Gothenburg Chapter, fomally
opened the Gothenburg
Chamber Chapter and
Christina Liljeström
encouraged all guests to join
the active chamber network.
The Swedish Chamber of
Commerce for the UK
hosted its annual event
Welcome to the UK at
Berns in Stockholm in
cooperation with the
BSCC.
The theme for the event was
Doing business in the left lane.
Speakers at the event included
H.E. Ambassador Paul
Johnston, Tania Tandon and
Richard Hildebrand from
Trowers & Hamlins, Joakim
Karlsson, Envac North
Europe, Jens Münch, iZettle
UK, and Maria Palgaard,
London & Partners.
The guests listening to H.E. Ambassador Paul Johnston
Anna C Belfrage and Matilda Stål from Kreab Gavin Anderson
Lars Egenäs and Jan Palmqvist from Deloitte listening
to the presentation
Partnership between the academic- and the business world
Previous Events
Page
Corporate Social Responsibility, CSR
On 10 February, Stora Enso AB hosted
a panel discussion on the topic CSR
from a management perspective—
challenges in Sweden and in the UK.
The panel included Nigel Salter, Founder of
the leading CSR communication consultancy
Salter Baxter, Toby Webb, Founder of the
influential CSR magazine Ethical
Corporation, Tehri Koipijärvi, Head of
Global Responsibility at Stora Enso AB, Mats
Jutterström Author and Researcher at the
Stockholm School of Economics, and Peter
Norberg, Author and Researcher at the
Stockholm School of Economics. Moderator
was Tommy Borglund, Senior Vice President
Communications at Stora Enso AB.
Mats Jutterström and Peter Norberg also
gave a short presentation of their book CSR
as a Management Idea—Ethics in Action
where Stora Enso AB had contributed with
their views and knowledge.
Following the presentation
there was an interesting
Q&A session and a drinks
reception.
Emily Villatte, JLT Risk Solutions AB,
and Kevin Shearman, SAAB AB
Elin Svensson, British Council, and
Nigel Salter, Salter Baxter Emma Aaben, Stena AB, and Erik
Hedén, Sustainable Brand Insight Mats Jutterström, Stockholm School of
Economics, and Tommy Borglund, Stora
Enso AB
The panel
Peter Bowden, beehpa.org, and
Jonathan Leicester, Cohr Group
Niclas Högström, Törngren Magnell,
Marco Mongiello and Markus Perkman
from Imperial College London
Felix Rudberg, Kreab, Göran Stegrin, Business Sweden,
Emmy Ahlstedt and Tiina Kikerpuu from Mälardalsrådet
Ulrika Ljungman, KTH, and Sofia
Göransson, Baker & McKenzie
Daniel Cartridge and Jenny
Gardner from UKTI
Together with Imperial College London the
BSCC organised an event on the topic Open
Innovation: How to create productive
partnerships between the academic– and the
business world.
The presentation was followed by a workshop with
members representing finance, IT, law and academia.
The audience listening to the presentation at the beautiful
venue; Handelsbanken
Previous Events
Tom Johnstone, SKF
UK and Polish reflections on the Crimea crisis
Page 9
Hampus Ericsson, JCE Group, and
Anders Rabbe, Isofol Tom Johnstone, SKF, Christina Liljeström, BSCC,
H.E. Ambassador Paul Johnston and Katarina
Ljungkvist, Handelsbanken
Peter Högström, Lindahl, and Mats
Hanson, Mats Hanson & Co AB
Claes Berglund, Stena AB, and Jan Olsson,
Deutsche Bank AG
Jan Cederberg, Private Member,
H.E. Ambassador Paul Johnston, and Björn
Åkerblom, Alexander Hughes Executive Search
Lars Jacobsson, United Sun Systems,
and Karin Markides, Chalmers
In cooperation with SKF we had the pleasure of
listening to Tom Johnstone, President and CEO at
SKF. The event was generously sponsored by
Handelsbanken in Gothenburg.
Tom Johnstone spoke on the topic SKF Group—
Sustainability. H.E. Ambassador Paul Johnston made
comments about the political situation in the UK.
The presentation was followed by an interesting Q&A
session.
Michaël Berglund, Michaël
Berglund Executive Search, and
Lars Eric Gustafsson, Hamilton
Ewa Hallberg, EKamb Consulting
AB, and Shaun Armstrong, AES
International
Jan-Carl De Geer, Geerinvest AB, and
Gerhard De Geer, IK Invest
Tomas Hammar, Foreign Bankers
Association, and Mats Torén, Swedbank
H.E. Ambassador Paul Johnston, Thomas Nygren,
Hamilton, and H.E. Ambassador Adam Halancinski
Eric Kindblom, RBS, and Erik Löfgren,
Kreab Gavin Anderson
On 8 May, we had the honour of listening to the UK
Ambassador Mr Paul Johnston and the Polish
Ambassador Mr Adam Hałaciński. The event was
generously sponsored by Hamilton Advokatbyrå.
The Ambassadors discussed openly the topic European
Security after Crimea: Polish and UK reflections on the
implications of the crisis.
The presentation was followed by a vivid Q&A session and a
drinks reception.
Previous Events
Corporate views on the European Union
Page
Karl Isaksson, Kreab, Ian Harcourt, RBS, Nils Lannefors, Alstom
Sweden, Jan-Eric Sundgren, Volvo Group, and Niklas
Bergström, Confederation of Swedish Enterprise
Birger Gezelius, Nordea Bank AB, and
Biörn Riese, Mannheimer Swartling
Philip Sheppard, Handelsbanken,
and Kristina Persson, Swedish for
Professionals
Ulrik Swedrup, CV Search, and
Johan Röhl, Club Med Claire Chomel, Just Search France, Amanda
Boix and Elahe Horvath from Hays
In cooperation with the French
Chamber of Commerce and EY, we
organised a panel discussion on the
topic Corporate views on the
European Union before the EU
election on 25 May.
The panel included Niklas Bergström,
Director EU and International Affairs at
the Confederation of Swedish
Enterprise—Svenskt Näringsliv, Ian
Harcourt, Head of RBS Nordisk Renting
at the Royal Bank of Scotland, Nils
Lannefors, Country Manager at Alstom
Sweden, and Jan-Eric Sundgren, Senior
Adviser to the CEO at Volvo Group. The
session was moderated by Karl Isaksson,
Managing Partner at Kreab Gavin
Anderson in Brussels.
The presentation was followed by a
interesting Q&A session and a drinks
reception.
Free Trade Agreement
On 12 June, we had the honour of listening to
Hans Stråberg, Chairman of Atlas Copco and
Co-Chair of the Trans-Atlantic Business Dialogue,
on the topic Free Trade Agreement—what effects
has the EU-election had on the negotiations and
the future business climate. The event was
generously hosted by Linklaters Advokatbyrå KB.
The UK Ambassador Mr Paul Johnston commented on
UKs approach towards the Free Trade Agreement and the
political situation in the UK.
The presentation was followed by a Q&A session and a
drinks reception. H.E. Ambassador Paul Johnston and
Hans Stråberg, Trans-Atlantic
Business Dialogue
Emma Linnér, Linklaters, Shaun Armstrong, AES
International, and Helena Trygg, Handelsbanken
Hans Stråberg, Trans-Atlantic Business
Dialogue, and Thomas Westin, Bank of
America Merrill Lynch
Hélène Hernmarck Olsson,
Eyemeetings, and Mats Bergquist,
Former Ambassador to the UK
Ulrik Swedrup, CV Search, and
Per Nyberg, Linklaters
Peter Melbi, Private member, and Jan-Carl
De Geer, Geerinvest
Previous Events
BSCC 60th Annual General Meeting
Page 11
On 2 June, the BSCC held its 60th Annual
General Meeting at the British Ambassadors
Residence followed by a paneldiscussion on
the topic Deal-Making in a New World with
Jan Olsson, Deutsche Bank AG, and Christer
Gardell, Cevian Capital AB. Moderator was
Paul Stone, Bain & Co.
Following the presentation the guests mingled and
enjoyed the beautiful weather on the terrace of the
British Residence.
Michaël Berglund, Michaël
Berglund Executive Search,
and Mrs Nicola Johnston
Hélène Hernmarck Olsson,
Eyemeetings, and Annette
Brodin Rampe, Brunswick
Staffan Andersson, Bird & Bird, and
Birgitta Rydbeck Dinkelspiel,
Gummesson Gruppen
Jörgen Ingemarsson, Crown
Worldwide, and Oscar
Svedberg, Hotel Diplomat
Johan Näs and Birger Gezelius from Nordea Bank Jenny Gardner, UKTI, and
Britt Ehrling, Navigera
Oscar Boldt-Christmas, McKinsey,
and Anders Kuikka, EIM
Biörn Riese, Mannheimer Swartling, Christina Liljeström,
BSCC, and Mattias Larsson, Setterwalls
Fredrik Henriksson, McGuire Woods,
and Peter Högström, Lindahl
Per Tjernberg and Mattias
Hultheimer from EFFSO
Paul Stone, Bain & Co, and Jonas
Mårtensson, Resscapital
Carl Grebing, Michaël
Berglund Executive Search,
and Rebecca Bjuvling,
Deutsche Bank
BSCC members at the AGM
Madeleine Huselius, Anna-Karin Lindeberg and Eva
Tedesund from Matrisen
BSCC Patrons 2014
Page
We are happy to have the support from all 28 Patrons of the Chamber!
