Carnegie Investment Bank Advances Its Position

Carnegie is stepping into the future with an entirely new IT system, significant AI investments, and a focus on cybersecurity. Rooted in 18th-century Scotland, Carnegie Investment Bank has a rich history to draw upon. However, in the rapidly evolving landscape of technology, the ability to adapt swiftly is crucial.

– We have a new digital offering called Montrose, which we will launch this year. It caters more to digital investors who are on the path to wealth, with a strong interest in investing and higher expectations for their digital investment platform, says Emma Trygger, Chief Digital Officer at Carnegie Investment Bank, in Consid’s Digital Influencer Podcast.

Carnegie, one of the oldest brands in the Nordic region, originally initiated by Scottish nobleman George Carnegie, is now gearing up for the next phase of its history, centered around AI and digitization.

– It’s a paradigm shift, and I am fully convinced that we need to focus on how it will affect us, what we can do, and what is relevant for us. As a bank, it’s crucial to ensure we have control over our data, adds Emma Trygger.

For eight consecutive years, Carnegie has topped the rankings in Swedish stock analysis, execution, and investor meetings, according to Kantar Sifo Prospera’s annual market survey, where institutional investors evaluate Swedish analysis and brokerage firms.

Carnegie has also been recognized as the leading advisor in corporate finance, mergers and acquisitions (M&A) in Sweden and the Nordic region, as well as the top advisor in equity market-related transactions (ECM) in Sweden and the Nordic region, according to Kantar Sifo Prospera’s survey.

With such a strong brand, there is immense pressure to stay at the forefront of digitization and AI.

– We revamped one of our key systems a couple of years ago—the heart of the bank. We also upgraded other systems and modernized the entire architecture. With a more modular architecture, it’s now much easier, faster, and more efficient to integrate with various third parties and take advantage of fintech products, says Emma Trygger.

The truth is, just like the construction sector, the banking and finance industry has lagged behind in the technological leap. Emma Trygger is well aware of this and has addressed it.

– Part of it is the heavy regulatory environment—and rightly so. It’s not just about pressing buttons all the time; it’s crucial to ensure compliance, follow regulations, and report to authorities properly, she emphasizes.

There is a shift happening at Carnegie. The new offering, Montrose, will attract more digital customers, and security is high on the agenda.

– We are Microsoft-based, and we’re working extensively on Copilot. We believe this will significantly streamline our operations and allow employees to focus on value-added tasks. Learning to work with Copilot as an assistant, rather than just using it as a search engine, is essential, explains Emma Trygger.

Cybersecurity is becoming an increasing threat to many actors.

– It’s a major challenge that will continuously require funds and resources. Dora (Digital Operational Resilience Act) will be a significant focus for us this year. It provides a solid foundation to put extra emphasis and effort into these issues, she says.

Despite all the new technological initiatives, sustainability will remain a priority for Carnegie. Their sustainability initiative is called Social Initiative.

– It involves collecting funds from employees for various projects. Currently, we have one in Uganda. What’s great about this is that all the money employees donate goes one hundred percent to the projects. Carnegie covers all administrative costs. The Social Initiative team conducts regular follow-up visits and has KPIs to ensure we achieve our goals, she concludes.

Carnegie also supports the children’s rights organization War Child.

The Digital Influencer Podcast is released on Thursdays and is available wherever podcasts are found.

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