Olof Aschberg - A short biography

Olof Aschberg the successful businessman and banker who earned the
nickname "Bolshevik Banker"

Born in 1877 in Sweden, Olof Aschberg became a successful businessman and banker,
who became internationally renowned for his leftist sympthies, and for his crucial role
in helping finance the Bolsheviks in Russia, before and after the October 1917
revolution, earning the sobriquet of "Bolshevik banker." He came under the influence
of socialists like Hjalmar Branting, the first socialist prime minister to be elected to
office in Sweden and Europe, and Willi Munzenberg, a communist political activisit and
propagandist for the Communist Party of Germany, who became the first head of the
Young Communist International in 1919/1920.

His socialist leanings and assistance given to the Bolsheviks before and
after the October 1917 revolution

In 1912, Aschberg founded in Stockholm, the first Swedish bank for trade unions and
co-operatives, known as "Nya Banken." His co-directors in the bank included
prominent Swedish socialists and members of Swedish co-operatives, such as G.W.
Dahl, K.G. Rosling, and C. Gerhard Magnusson. Ironically, in spite of his socialist
leanings Olof Aschberg undertook a trip to New York in 1916, on behalf of Pierre Bark,
the Tsarist minister of finance, to negotiate a $50 million loan for Russia with an
American banking syndicate, headed by Stillman's National City Bank, which was
successfully concluded on June 5, 1916. However, while the Tsarist loan operation was
being floated in New York, Olof Aschberg's "Nya Banken" was at the same time
secretly channelling funds from the German government to the Russian
revolutionaries, in the guise of payment for goods shipped. The support of the German
Government to the anti-war Bolveshiks was intensified in order to force the Russian
Government to withdraw from the war.

In 1918, when Nya Banken's dealings with the Germans caused him troubles with the
Allies of World War I, Olof Aschberg renamed his bank as "Svensk Ekonomiebolaget" In
an effort by the new Soviet Government to beat the international boycott on gold
"robbed" by the Bolsheviks during the revolution, Aschberg became the chief
facilitator, who offered the gold on the Stockholm market after melting the metal and
giving new markings. Aschberg also co-operated with Willi Munzenberg who set up the
organization known as Workers International Relief in 1921, that floated the so-called
"workers' loan" into which money confiscated from the rich and the Church in Russia
was secrety chanelled, and the laundered money was then used for buying machinery
and other essential goods in the West, required by the Russian industries.
His appointment as the Head of the Ruskombank, the first international
bank set up by the Soviets

In 1922, the Soviets set up their first international bank known as the Ruskombank,
consisting of a syndicate of former Russian tsarist private bankers, and German,
Swedish, American and British bankers. The Soviet leadership appointed their trusted
Swedish partner, Olof Aschberg as the head of this bank, whose board consisted of
representatives of Tsarist private bankers, and German, Swedish, American and British
banks, and also representatives of the Soviet government. The bulk of the investment
in the Ruskombank came mainly from the British banks, and the bank had a share
capital of 10 million gold roubles. The bank had its headquarters in the former Siberian
Bank building in Petrograd (St. Petersburg). The objectives of the bank were to raise
short-term loans in foreign countries, to introduce foreign capital into the Soviet Union,
and to facilitate Russian overseas trade. At the time of opening the bank, Olof
Aschberg said, "The new bank will look after the purchasing of machinery and raw
material from England and the United States and it will give guarantees for the
completion of contracts. The question of purchases in Sweden has not yet arisen, but it
is hoped that such will be the case later on."

Olof Aschberg had access to large sums of money for the purpose of meeting
payments on goods ordered by the Soviets in Europe. These sums were placed in
Aschberg's own bank in Sweden, Svensk Ekonomiebolaget, agents for the Ruskombank
in Sweden, through whom payments were made in Europe. It is alleged that part of
these funds were diverted by Aschberg for making investments for his personal
account, that resulted in a charge of misuse of funds against him and his eventual
removal in 1924, from his position as head of the Ruskombank. It might also be
possible that the removal of Olof Aschberg was part of the reorganization of state
institutions initiated by Joseph Stalin after he consolidated state power in his hands as
the General Secretary of the Communist Party, after the death of Vladimir Lenin.

His emigration to France in the late 1920s where he purchases a

Chateau and a Paris townhouse

By the end of 1920s Aschberg and his family moved to France, where he purchased
the Château du Bois du Rocher at Jouy-en-Josas and a Paris townhouse on the Place
Casimir-Périer. The collection of Russian icon paintings which Aschberg built up over
the years and other paintings from renowned artists were exhibited in the Chateau du
Bois du Rocher. The collection of Russian icons consisting of 245 pieces was
subsequently donated by Olof Aschberg to the Swedish National Museum at Stockholm
in 1933.
 Château du Bois du Rocher at Jouy-en-Josas purchased by Olof Aschberg in the late
1920s

The renewal of his acquaintance with Willi Münzenberg who became the
leader of the German anti-fascist and anti-Stalinist community in Paris.

After settling in France, Olof Aschberg renewed his acquaintance with Willi
Münzenberg, who too had settled down in Paris, after Joseph Stalin's Great Purge of
the 1930s, in which he was condemned by Stalin to be purged and arrested for
treason. Willi Münzenberg became a leader of the German anti-fascist and anti-
Stalinist community in Paris. Münzenberg was often invited to Ashberg's Paris
townhouse, which became a sort of all-purpose Münzenberg salon. Aschberg also
funded the launching of the weekly political broadsheet "Die Zukunft" (The Future) by
Willi Münzenberg.

His escape to the USA when the Nazis invaded France

With the outbreak of World War II, Aschberg was interned in Camp Vernet, which was
used by the French authorities to house "all foreigners considered suspect or
dangerous to the public order." However, when France was invaded by Nazi Germany
in 1940, the French authorities who knew of Aschberg's Jewish background set him
free as his life would be endangered. Aschberg took the opportunity to escape with his
family to Portugal, from where they fled to the USA via Lisbon. After the end of the
war, Aschberg went back to Sweden from the USA, and in 1946 started the publishing
of his memoirs.

The gifting of Château du Bois-du-Rocher to UNESCO in 1956

On December 28, 1956, Olof Aschberg and his wife Siri Aschberg, gifted their
residence in France, the Château du Bois-du-Rocher, fully furnished and containing
valuable paintings, located at Jouy-en-Josas, near Versailles, with 11 hectares of
grounds surrounding it, to the UNESCO, to be used so as to help UNESCO attain the
goals it pursues and fulfil its function. Accordingly, UNESCO with its headquarters
located on the Place de Fontenoy in Paris, used Château du Bois-du-Rocher, to hold
expert meetings and training seminars for newly appointed headquarters and field
staff, for nearly three decades, until 1984.

Olof Aschberg in later life

The sale of Château du Bois-du-Rocher by UNESCO to Conseil General

de l'Essonne who installed the Bievres Museum of Photography in the
Chateau.

After 1984, the use of the Chateau was abandoned by UNESCO, but the Organization
had to continue paying the domestic staff on a full-time basis, as well as meeting the
cost of running and maintaining the property. After several studies were conducted by
the UNESCO on the alternative uses of the valuable Château du Bois-du-Rocher
property, including an offer to the International Olympic Committee to use the
property as a permanent premises for the education and training of officials, sports
managers, managers and administrators of sports associations, and the like, which
was turned down by the IOC, it was decided to sell the property, with the consent of
the heirs of the donors, and use the proceeds to attain the objectives mentioned in the
deed of gift. The heir of Mr. and Mrs. Olof Aschberg, Dr. Sven Aschberg gave his
consent for the sale on February 10, 1989. Accordingly, the Director General of
UNESCO ordered the sale of the Château du Bois-du-Rocher property and furniture by
public auction in 1991. The furniture was sold by public auction on April 10 and 11,
1992, realizing a sum of 2.5 million francs. Bids were invited for the building itself
which was sold to the highest bidder, the Conseil General de l'Essonne, a regional
authority, for 13.3 million francs. The Conseil General de l'Essonne were planning to
install the Bievres Museum of Photography in the Chateau.

Olof Aschberg died on April 21, 1960, at the age of 83 years.