of the community Saltsjöbaden, its residential town, railway, Grand Hotel Saltsjöbaden, the Church of Revelation where he and his wife Alice are buried in a sarcophagus, and the Observatory. In 1903, following a proposal from businessmen in the Swedish business community, Knut Agathon Wallenberg donated a large sum to the founding of a business school in Stockholm. The money was used by the School of Business, Economics and Law, which was established in 1906 to found the Stockholm School of Economics in 1909, which is still financed and controlled by the Wallenbergs today and has, since then, sister schools in Riga, Latvia, and St.Petersburg, Russia. Wallenberg was chairman of the Swedish School of Economics 'Association, the Swedish School of Economics' highest decision-making body, 1906–1938. He was also vice chairman of the board of the Stockholm School of Economics, the university's highest executive body, 1909–1938. He donated funds for the establishment of André Oscar Wallenberg's professorship in economics and banking at the university in 1917. He also made large donations to finance the university's new main building at Sveavägen 65 in Stockholm. British Bank of Northern Commerce was founded in February 1912 by Knut Agathon Wallenberg and Emil Glückstadt of Landmandsbanken together with several other banks including Centralbanken of Norway in Oslo, Banque de Commerce de l'Azoff-Don in St.Petersburg, and Banque de Paris et des Pays Bas in Paris. The purpose of the bank was to facilitate trade between the United Kingdom and northern Europe. The bank financed Finland after the country achieved its independence from Russia in 1917–18. In June 1919 the bank offered the chairmanship of its board to John Maynard Keynes with the assurance that in return for a salary of £2000 the job would only take a morning a week. Keynes had met Knut Agathon Wallenberg and Glückstadt during World War I and believed the offer was attractive. However, Keynes consulted with several bankers in the city and turned the offer. In October 1920 British Bank of Northern Commerce merged with C.J. Hambro & Sons, rebranded Hambros Bank of Northern Commerce. In August 1921 the bank shortened its name to Hambros Bank. In 1938, Knut Agathon Wallenberg died. Knut and his wife Alice had no issue, apart from an adopted daughter, Jeanne, born out of wedlock to Jean Karadja Pasha, and thus half-sister to Constantin Karadja, and therefore chose to bequeath his enormous fortune to the already