Berenberg expands business with asset managers
Hamburg. The Hamburg-based private bank Berenberg focuses on business with independent asset managers. Their specialized customer service team has been expanded by four top-class specialists. This Berenberg business branch is now not only being represented in Hamburg but also in Frankfurt, Munich and Düsseldorf.
“The support of independent asset managers is an attractive growth market for us“, explains Michael Gillessen, Head of the Berenberg External Asset Management Office. So far, in an international comparison, fewer private investors are being supported by these licensed capital market experts in Germany. This, however, changes slowly but steadily. Germany’s oldest private bank has already been working for many years with this client group as a custodian bank. “The expansion of our team will allow us to significantly broaden the range of our services”, says Gillessen.
Berenberg sees itself as the strategic partner of independent asset managers, helping with business plans of new enterprises, offering support in order to receive authorizations by the German Federal Supervisory Authority (BaFin) and lending a helping hand with the operational side of the asset management business. Its wide array of services is rounded off by launching private label funds, marketing and sales support as well as advice on succession planning.
There are two new relationship managers on the team, Frank Eichelmann and Thomas Wehrs, both based in Frankfurt and with many years of experience in supporting independent asset managers, initially with UBS, later Hauck & Aufhäuser. The asset managers’ marketing and sales activities will be supported by Sven Hoppenhöft and Thomas Reinhold, who have been advising independent asset managers at Hauck & Aufhäuser since 2008. They have previously been with Nordinvest in Hamburg and have started out at Vereins- und Westbank.
Melanie Fulczyk, formerly of V-Bank, and Ralf Kaltenbach, formerly of Hauck & Aufhäuser, already joined the Berenberg External Asset Management Office back in 2013. “Together with our new recruits and employees who have already been with Berenberg, we are now a highly efficient team with a comprehensive range of services,” adds Gillessen, who took the helm last July. “With our new set-up, we don’t only offer operational support but are also a strategic partner for asset managers in Germany”.
Director Corporate CommunicationKarsten Wehmeier
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