Falkengren moved up from eleventh place in the 2007 installment of Fortune’s Most Powerful Women in Business rankings, reports the E24 business news website.
Founded in 1856 by André Oscar Wallenberg, SEB is one of Sweden’s largest banks and is remains controlled by the influential Wallenberg family through its Investor holding company.
Joining Falkengren on the list is Antonia Ax:son Johnson, who is making her debut in Fortune’s ranking at 21st place. Ax:son Johnson has been board chair of Axel Johnson AB since 1982, a holding company founded by her great-grandfather in 1873.
The company owns the Servera catering firm, security firm Svensk Bevakningstjänst and the Åhléns department store group, and is partial owner in the publicly listed Axfood food retailer and automotive parts supplier Mekonomen.
Coming in at 47th place and making the list for the first time is Cristina Stenbeck, the eldest daughter of the late Swedish media entrepreneur, Jan Stenbeck.
She has chaired her family’s Kinnevik investment company since 2007 and sits on the boards of several media companies which make up some of Kinnevik’s major holdings, including Tele2, MTG, and Metro International.
Fortune’s Most Powerful Women in Business ranking is topped this year by American business woman Cynthia Carroll, CEO of the Anglo American mining company. She is followed by Gail Kelly from South Africa, who heads the Australian bank Westpac.
Coming in third is American Linda Cook, CEO of Shell Gas & Power, a US subsidiary of Royal Dutch Shell.