Private bank: Berenberg reorganizes circle of shareholders after scandal
The managing director, Hendrik Riehmer, who was shut down by the financial supervisory authority, is selling his shares in the private bank. A Hamburg merchant family is taking them over.
Hamburger private bank Berenberg is progressing with a restructuring of its shareholders following a leadership change forced by financial regulators. The Döhle Group, a Hamburg-based shipping and maritime services company, has acquired most of the shares held by former bank chief Hendrik Riehmer, taking its stake in Berenberg to around 10%. Riehmer, who was ousted in June amid a financial scandal, no longer holds any shares in the bank. The acquisition price for Riehmer's shares was not disclosed.
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