Entrance to Berenberg Bank head office in Hamburg, Germany. Credits: nitpicker/Shutterstock.

Berenberg Bank has stated its belief that there are prospects for growth in the UK and its plans to invest there.

The investment bank arm of Berenberg will gain the most support in the UK. Since the start of Covid-19, the firm has more than doubled the number of specialists for the UK market alone from 30 to over 60 and hired further senior advisers and a new head of M&A in 2023.

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In addition, Berenberg Bank is to expand its Munch location from 10 to 40 employees and to serve as a pillar in Southern Germany. They will advise a strong client base, as well as institutional investors and corporate clients.

“Once again, Berenberg has demonstrated that its diversified business model, encompassing the business units of Investment Bank, Wealth and Asset Management and Corporate Banking, functions reliably in various different market situations and sustainably generates returns substantially above the industry average,” said Hendrik Riehmer, managing partner of Berenberg Bank.

“We see a significant opportunity in UK investment banking particularly given industry consolidation is now taking hold. With our clearly differentiated investment banking platform versus UK brokers, we have grown to almost 70 corporate broking clients and continue to invest in the UK which is becoming a key pillar of our broader investment bank,” added David Mortlock, managing partner.

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“Alongside liquid portfolio management and the selection of illiquid alternatives, our structure enables us to offer other services,” stated Riehmer. “For instance, this includes strategic asset allocation in line with the latest scientific findings. This enables both institutional clients and private investors to identify optimisations and make more sound decisions.”

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