Dag Detter

Biography

From 1998 - 2001, Dag Detter led a restructuring of the $70 billion portfolio of companies owned by the Swedish government. The portfolio consisted of more than 60 companies and 200,000 employees. This was the first attempt by a European government to address systematically the ownership & management of government enterprises & real estate.

During the restructuring, Mr. Detter served as the President of Stattum, a holding company that managed part of the Swedish government’s portfolio of businesses. He also served as a Director at the Swedish Ministry of Industry and as Head of the State Enterprise Division within the Ministry.

The companies overseen by Mr. Detter during this period included Vattenfall, the national electricity company; Posten, the national mail and logistics company; Telia, the telecom incumbent; AssiDomän, one of Europe’s largest forestry, paper, and packaging groups; Celsius, one of Europe’s largest defence groups; and the rail operator SJ.

From May 1999 - June 2001, as the restructuring was under way, the value of the Swedish government’s portfolio of assets increased 12%, outperforming the local stock market index which appreciated only 6%. The portfolio also yielded approximately 18 billion USD from divestitures and approximately 7 billion USD from dividends.

Mr. Detter has since advised local and national governments in over 30 countries on how tap the value of their public commercial assets and real estate. The countries where his advisory services have been sought out include Abu Dhabi, Argentina, China, Ethiopia, Finland, Greece, Jordan, Libya, Lituhania, Oman, Saudi Arabia, Sri Lanka, the United Kingdom, the United States, Ukraine, Uzbekistan, and Vietnam.

He has also advised international institutions such as the Asian Development Bank, the International Monetary Fund (IMF), and the World Bank. He has consulted for the European Stability Mechanism and Hellenic Republic Asset Development Fund.

He has served as Non-Executive Director of both listed and private companies, including Celsius; Telia; Posten; Svenska Kraftnat, the Swedish national electricity company; and Jernhusen, the Swedish national railway holding company.

He speaks English, Swedish, German, French, Mandarin, and Danish.

Government officials, international institutions, and businesses who would like to retain Mr. Detter’s advisory services can do so at Detter & Co., a corporate finance advisory boutique directed by Mr. Detter which specializes in restructuring and managing public commercial assets.

Known For

Led The First Attempt By A European Government To Address Systematically The Ownership & Management Of Government Enterprises & Real Estate. (1998 - 2001)

Current Positions

Principal, Detter & Co.

Former Positions

President of Stattum - Swedish National Wealth Fund (1998-2001)

Director, Swedish Ministry of Industry (1998 - 2001)

Head, State Enterprise Division, Swedish Ministry of Industry (1998 - 2001)

Investment Banker, SEB/Barclays/Credit Suisse/BNP Paribas (1986 - 1998)

Education

Legal Studies, Stockholm University (1992 - 1993)

Fudan University (1984 - 1985)

Business Administration & Sinology, Lund University (1982 - 1986)

Royal Naval College, Stockholm (1979 - 1980)

“This book is a compelling practitioners guide for current and aspiring policymakers who take seriously their responsibilities to promote economic and social welfare, not just now but for future generations.” — Ruth Richardson, New Zealand Minister of Finance 1990-93

“Public Net Worth – Accounting, Government and Democracy, suggests a holistic approach to PFM and explains how governments can improve their fiscal position from a declining net worth to a positive one that is able to withstand fiscal shocks and enhance the financial performance of the public sector.” — Arman Vatyan, Public Financial Management Leader at the World Bank

“Public Net Worth book comes at the right time to accelerate actions toward governments preparing more credible balance sheets.” — Srinivas Gurazada, Global Lead, Public Financial Management at the World Bank

“The Public Net Worth is an essential reading by all those who are concerned about the fairness of the government finance.” —W.A. Wijewardena, former Deputy Governor of the Central Bank of Sri Lanka

2015 Books of the Year - The Economist

2015 Best Books of the Year - The Financial Times

“Better government handling of public assets is, or should be, a key issue in many countries. With his background as a former Director at the Ministry of Industry and former President of Stattum, the Swedish governmentholding company, Dag Detter can speak with great authority and depth of practical experience on the alternative approaches which governments might take. The Public Wealth of Nations is an important contribution to a debate of vital concern to governments across the world.” —Lord Sassoon, former Commercial Secretary, HM Treasury

“In this important book, the authors convincingly argue using many examples that, like with pension funds or even households, an asset-liability approach is needed for public finance as well. They show that intelligent management of public assets can have a huge impact on government revenues, creating room for tax cuts, and on economic growth.” — Dr. William De Vijlder, Group Chief Economist, BNP Paribas

“Across the globe, people are flocking to cities. But some cities are thriving and others aren’t. As the process of urbanization continues, it’s crucial to understand why some cities succeed and others don’t. In this important and practical new book, Detter and Fölster teach us how to turn around distressed cities.” — Peter Orszag, Vice Chairman of Investment Banking, Lazard, and former Director, Congressional Budget Office

“The authors offer pragmatic solutions, linking better outcomes to asset management practices and new definitions of social capital that promote evidence-based investments. The strategy: identify your economic, social, and human assets; professionally manage assets; and instead of showcasing current interests or putting out fires, make long-term investments.” — Ben McAdams, Salt Lake County (Utah) Mayor

“Detter and Fölster take the lessons from their earlier work and apply them at the local level, where creativity and innovation are essential and where both the potential promise and pitfalls of government action are in stark relief.” — Anthony Williams, Executive Director, Federal City Council, and former Mayor, Washington, D.C.