Ernest Thiel

Ernest Jacques Thiel was a Swedish financier and art collector whose former villa in the Stockholm park area Djurgården today houses the Thiel Gallery.

Biography

Ernest Thiel was born in the Swedish town of Norrköping.
His parents were the Belgian Catholic engineer Jacques Thiel and Fanny Stiebel, of German-Jewish origin. After school in Stockholm, Thiel was sent to Germany to learn trade in a Hamburg merchant house, and later worked in a bank there. He returned to Stockholm in 1877 and found work in Stockholms Enskilda Bank, the bank of the Wallenberg family.
In 1884 he became the manager of the Stockholm office of Hernösands enskilda bank and in 1891 he had accumulated enough capital to start his own bank, Stockholms Kredit- och Diskontoförening, later known as Aktiebolaget Stockholms diskontobank, which he headed until 1901. In 1884 he had married Anna Josephson, member of a well-known Jewish family and sister-in-law of the publisher Karl Otto Bonnier.
He caused a scandal when he divorced her to marry Signe Maria Hansen, a young and beautiful widow with literary and artistic interests who had been his wife's companion. During the winter of 1910-11, the spouses separated. Signe Thiel moved to a villa in Öland where she died in 1915.
The deflation crisis of 1920–1922 was one of the factors that led to Thiel's equity portfolio rapidly falling in value and his financial assets being destroyed. He was forced to pay heavy debt and to sell the property in 1924. Ernest Thiel became known as a translator of works by Nietzsche into Swedish and wrote his memoirs in 1946. He died in Stockholm during 1947.