Share This Profile
Share this profile on Facebook.
Link to this profile on LinkedIn.
Tweet this profile on Twitter.
Email a link to this profile.
See other services through which you can share this profile.
This profile was last updated on 6/17/11  and contains information from public web pages and contributions from the ZoomInfo community.

Mr. Alexander M. Vik

Wrong Alexander M. Vik?

Employment History

  • President and Chief Executive Officer
    Vik Brothers International
  • Chairman and Chief Executive Officer
    Xcelera Inc.
  • Chief Executive Officer
    Xcelera Inc.
  • Chief Executive Officer
    Mirror Image Internet Inc
  • Chairman
    Mirror Image Internet Inc
  • President and Chief Executive Officer
    Sebastian Holdings Inc.
  • Owner
    Sebastian Holdings Inc.
  • Chairman and Chief Executive Officer
    Vik Brothers Insurance Inc.
  • President and Chief Executive Officer
    Vik Capital
  • Chairman
    Confirmit Corporation

Board Memberships and Affiliations

  • Board Member
    Confirmit Corporation


  • A.B. , Economics
    Harvard University
69 Total References
Web References
Board of Directors at Confirmit, 17 June 2011 [cached]
Alexander Vik - Chairman of the Board
Alexander Vik joined Confirmit's Board of Directors in March 2007. Mr. Vik is President and Chief Executive Officer of Sebastian Holdings Inc., Vik Brothers International and Vik Capital, international investment firms which manage investments in global markets focusing on securities, both public and private, foreign exchange and commodities. Vik Capital is a full spectrum investor i.e. startups, venture capital, growth companies, recapitalizations as well as long term, growth investments. The group also has significant investments in private equity and hedge funds managed by external firms. Mr. Vik graduated from Harvard College in 1978.
Protegrity, 8 May 2005 [cached]
Alexander M. Vik, Chairman of the Board and Chief Executive Officer, Xcelera
As chief executive officer of Xcelera Inc. since March 1989, Alex Vik has spearheaded the company,s move to acquiring interests that focus on the movement of information across the Internet.Vik is the chief executive officer of Mirror Image Internet Inc. and serves on the boards of numerous other companies.Since 1986, Mr. Vik has been chairman of and CEO of Vik Brothers International USA Inc.From February 1989 to May 1997, Mr. Vik served as chairman of the board and chief executive officer of Vik Brothers Insurance Inc., an insurance holding company.Vik holds an A.B. in Economics from Harvard University.
Mr. Johansson is partner at Vik Brothers International, an investment group run by Alexander M. Vik.
Leadership | Mirror Image Internet, 2 Feb 2012 [cached]
Alexander Vik, Chairman
Alexander Vik, Chairman Since March 1989, Alex Vik has served as Chief Executive Officer of Xcelera Inc. Alex has spearheaded the company's move to acquiring interests that focus on the movement of information across the Internet. Alex is the Chairman of Mirror-Image and also serves on the boards of numerous other companies. Since 1986, Alex has also been Chairman of and CEO of Vik Brothers International USA Inc. From February 1989 to May 1997, Alex served as Chairman of the board and Chief Executive Officer of Vik Brothers Insurance Inc., an insurance holding company. Alex holds an A.B. in Economics from Harvard University.
Agentus, 15 Dec 2007 [cached]
Alexander M. Vik
Alexander M. Vik has served as our Chairman of the Board since September 2000.Alex serves on the boards of numerous other companies and is the CEO of Mirror Image and Xcelera.Alex holds an A.B. in Economics from Harvard University.
The Riddle Of Alexander ..., 5 Mar 2014 [cached]
The Riddle Of Alexander Vik
A Norwegian who was raised in Sweden and schooled in the Canary Islands, Vik attended Harvard, where he won the Ivy League golf championship-twice. He brought up his children in an eight-bedroom Greenwich, Conn. mansion that once belonged to a Rockefeller heir, but he claims residence in Monaco. And while he does not drink often, when he does, he prefers Christiania Vodka, made from a 400-year-old recipe that originated in the court of Norway's King Christian IV. He owns it.
"Alex was a super risk taker, and sometimes these guys can worm out of things," says Stephen Greenberg, a former general counsel at one of Vik's insurance companies, who later clashed with his boss in court.
With a tendency to operate through offshore companies, Vik has bought and sold everything from insurance companies to penny stocks and even once tried to break up French media giant Vivendi. His biggest ventures and bets ultimately failed, yet Vik almost always seemed to come out on top, emerging unscathed and often richer, even as those who invested alongside him were burned.
HARVARD ITSELF MAY be something of a club, but current and former athletes there have cleaved off their own, the Harvard Varsity Club. Among them is Alexander Vik, who came to America for the first time as a member of the Class of 1978. There is a page devoted to him on the club's website, featuring a photo of Vik, ready to drive a golf ball, long locks of curly blond hair falling below his ears. "In business, 'brand' is very much in vogue," Vik notes below it, "and Harvard has the greatest global educational brand and we have to continue to nurture it."
Vik's business brand started on Wall Street, where he worked as a broker at firms like Kidder, Peabody during the day and converted Manhattan rentals into condos at night. His big break, though, came courtesy of his wealthy dad, who bought a controlling interest in the Scandinavia Fund and put Vik in charge, with younger brother Gustav riding along as treasurer.
On paper it was a value play. The Scandinavia Fund traded at a discount to its net asset value during a time, the late 1980s, when some closed-end country funds were selling at unjustifiable premiums to their underlying holdings. But in reality, investors claimed Vik tried to turn it into a piggy bank. Under Vik Scandinavia Fund went into cash just before equities in countries like Norway soared. The fund also tried to buy real estate loans from a financial firm that had loaned the Viks money to buy shares of France Fund, another closed-end country vehicle. As the closed-end-fund bubble deflated, minority shareholders sued in 1989 for not fully disclosing the connection between Vik and the other financial firm and for breaching fiduciary duties by going into cash. Vik denied wrongdoing, and Scandinavia Fund ended up settling the lawsuits, reportedly for less than $700,000.
No matter. Insurance soon piqued Vik's interest. Hurricane Andrew, which leveled South Florida, had pummeled underwriters, and the Viks bought up insurance assets in a rapid series of acquisitions. They set up shop in Lawrenceville, N.J., and Vik Brothers Insurance was soon writing $300 million of property and casualty insurance premiums, mostly on the East Coast, when Vik sold it in 1997 to Highlands Insurance for $100 million. His timing was good: By 2002 Highlands filed for bankruptcy, though Vik Brothers Insurance was not the cause. In another insurance move Vik teamed up with two big insurers from Sweden and Finland and bought Home Insurance Co., based in Manhattan's financial district, for $800 million. The insurance companies bought out Vik's minority stake soon after. Again, good timing. In 1998 Home Insurance failed.
It's unclear how much money Vik and his family made from their adventures in closed-end funds and insurance, but Vik emerged unscathed, at worst. And he still controlled Scandinavia Fund-his family owned 73%-which he had converted into an operating company. Since it still traded on the American Stock Exchange, he now had a public vehicle for dealmaking. And because he based it in the Cayman Islands, his company could operate with more opacity at that time, delaying financial filings with the Securities & Exchange Commission. At first Vik used the firm to run a resort in his old stomping grounds, the Canary Islands. But then came the Internet bubble, and he turned his attention there.
With Vik as CEO, Scandinavia Co. became and in 1999 purchased a majority stake in Mirror Image Internet, an Internet-caching company in Woburn, Mass. Scandinavia also began scooping up minority stakes in a grab bag of companies-Active ISP, and e-game-that had good stories, even if they had neither revenues nor paying customers. Press releases and press appearances floated the stock. Vik would personally craft the wording late into the night, sweating the details of each promotional outburst. "Relatively speaking, there's very little competition. This is a brand-new field that didn't exist a year and a half ago. People are projecting it to be $14 billion by the year 2003," Vik said in one interview. On CNN's now defunct financial channel he answered a question about Xcelera's "voodoo" by likening it, in theory, to Akamai Technologies, a comparison that drove Akamai executives crazy.
The stock collapsed soon thereafter but not before Vik and his family, through a company they controlled, sold $250 million of Xcelera stock, according to a class action filed by shareholders against Vik. He denied the allegations.
For more than a decade Vik faced Xcelera-related lawsuits, and for more than a decade he won. "We spent years on the case, and you don't do that unless you think you have something," says Peter Pease, the frustrated plaintiff lawyer who spearheaded a major class action. (A federal judge disagreed: She tossed the case on the first day of trial, citing a lack of evidence that insufficient disclosure caused damages.) Minority shareholders of Mirror Image sued Vik in Delaware state court and also lost. Vik was unchastened. After Xcelera's stock was delisted, Vik launched a successful tender offer to buy the remaining shares for 25 cents each without disclosing any financial information about the company, according to a shareholder class action that accused Vik of insider trading and market manipulation. He denied the allegations. And again, Vik prevailed and held on to the remaining assets of Xcelera.
Still, even people who felt cheated by Vik found his charm tough to resist. Visiting Vik's Greenwich mansion was like entering a Scandinavian version of the Louvre, packed with works by the region's top artists. Vik also keeps prized art possessions in New York in a two-bedroom apartment on the 67th floor of the Time Warner Center that he bought for $4 million in 2004 and later transferred to his wife, Carrie. He travels constantly (sometimes chartering a private jet) to visit his vineyard in Chile, homes in France and Monaco and hotels in Uruguay. "Up on the Estancia it's like Marlboro country," Vik told Forbes?Life in 2011 about his Uruguayan properties. "Romantic and rustic, with gauchos. But on the beach it's like Saint-Tropez in the summer, with parties and dancing and beautiful people."
Vik works all the time, say former colleagues, but maintains a Scandinavian reserve, always contemplating his next move, never getting outwardly angry.
WALKING AWAY FROM the dot-com refuse, Vik spied the next big fortune-creating trend: derivatives trading. He set up something called Sebastian Holdings, which was incorporated in Turks and Caicos but largely operated out of his Connecticut house, which is also owned by his wife (his official residence remains Monaco). He employed two Wall Street traders, Klaus Said and Michael Kluger. Together they took big positions in everything from shipping stocks to foreign currencies and futures contracts. Armed with a margin account provided by Deutsche Bank, Vik even bought a sizable stake in Vivendi and drew headlines in 2006 by trying to force the French company to sell assets.
Other People with the name "Vik":
Accelerate your business with the industry's most comprehensive profiles on business people and companies.
Find business contacts by city, industry and title. Our B2B directory has just-verified and in-depth profiles, plus the market's top tools for searching, targeting and tracking.
Atlanta | Boston | Chicago | Houston | Los Angeles | New York
Browse ZoomInfo's business people directory. Our professional profiles include verified contact information, biography, work history, affiliations and more.
Browse ZoomInfo's company directory. Our company profiles include corporate background information, detailed descriptions, and links to comprehensive employee profiles with verified contact information.