Aschberg, Olof, 1877-1960

Olof Aschberg (July 22, 1877 – April 21, 1960) was a Swedish banker of Russian-Jewish descent who served as head of the Stockholm bank Nya Banken, the first bank in Sweden for trade unions and cooperatives. From August 18, 1922 on he served as Director-General of Roscombank, which was later transformed into Vnesheconombank. Aschberg was a leftist sympathizer and helped finance the Bolsheviks during the Russian Revolution. In gratitude, the Bolshevik government allowed Aschberg to do business with the Soviet Union during the 1920s (as was consistent with the New Economic Policy). His co-directors included prominent Swedish cooperatives and Swedish socialists, including G. W. Dahl, K. G. Rosling, and C. Gerhard Magnusson.