Berenberg restructures ownership following management dismissal

Hamburg-based private bank Berenberg has restructured its shareholder base following a balance sheet scandal that led BaFin to dismiss its entire management team in June. Former CEO Hendrik Riehmer has exited the bank's ownership circle and no longer holds any capital shares.

The Döhle Gruppe has acquired Riehmer’s former interest in the PetRie Beteiligungsgesellschaft, the central vehicle for core holdings in the private bank, bringing its stake to 9.98 percent. Additionally, the von Berenberg family has taken over Riehmer’s remaining shares of approximately 1 percent.

The transaction is described as a purely financial investment, and the Döhle Gruppe will not have insight into the bank’s client business. The updated ownership structure includes the von Berenberg family at 31.86 percent, PetRie Beteiligungsgesellschaft and Dr. Hans-Walter Peters at 21.41 percent, Christian Fürst zu Fürstenberg at 14.25 percent, Prof. Dr. Jan Philipp Reemtsma at 14.25 percent, Compagnie du Bois Sauvage S.A. at 11.40 percent, and David Mortlock, Christian Kühn, and former partners at 6.83 percent.