The firm was established by six former employees of Enskilda Secusrities: Spencer Maizels, Sten Westerberg, Mark Florman, Peter Wikström, Tomas Söderström & Jonas de Verdier.
Sten Westerberg had been undersecretary of state at the Ministry of Finance (Sweden) and had strong government connections.
The term belies the position the firm had as a leading player in the Nordic mergers and acquisitions market.
The emergency restructuring resulting in the sale of four subsidiaries belonging to the Swedish co-operative KF (Kooperativa Förbundet) soon followed as did a string of high-profile deals.
[3][4][5][6] At the end of 1999, Maizels, Westerberg & Co. was bought by the Finnish-Swedish bank Merita Nordbanken (now Nordea).