[3] Palmstierna passed studentexamen in Sigtuna in 1953 and graduated from the Wharton School of the University of Pennsylvania in Philadelphia in 1957.
Upon Palmstierna's entry, as CEO of SEB, the bank had bought his villa in Djursholm and rented it to him for SEK 3,000 per month.
At that time, the rental amount was considered extremely advantageous, as it corresponded to the cost of a two-room apartment in the outskirts of Stockholm, which had prompted the Swedish Tax Agency to investigate the arrangement.
Then, in an interview with the newspaper, Palmstierna expressed that the rent for the villa was marketable, that is, perfectly normal, escalated the affair.
It reached a peak, when a few days later it turned out that the Palmstierna leased a villa in the same area for a monthly rent of SEK 30,000.
His confidence as a banker was considered to be exhausted and he received no support or defense from the Wallenberg family or the bank's board, which led him to submit his resignation application on 14 November 1989.
Palmstierna himself had stood closest to the father Marcus Wallenberg Jr., with whom his son Peter had a complicated relationship with.
As chairman between 1992 and 2000, he then co-founded the mergers in Norway, Denmark and Finland, which became today's Nordea, the largest bank in the Nordic countries.