Berenberg With New Management

Dr Hans-Walter Peters, the bank's long-serving former Chief Executive and subsequent Chairman of the Advisory Board, together with Michael Horf, a former member of the Executive Board of Degussa Bank, have assumed the role of special commissioners with immediate effect. Day-to-day operations, the execution of the bank's business strategy, and existing employment are unaffected by these changes.

Dr Hans-Walter Peters states: "This step is necessary, as absolute integrity is a core value of Berenberg." Dr Peters further emphasises that the breaches in question had no bearing on client business and that no clients sustained any harm. Michael Horf adds: "The business model has proven its worth over decades. Berenberg is exceptionally well positioned and benefits from a strong and experienced leadership team with outstanding staff."

"The bank expects to report a positive result for the financial year 2025 of approximately €20 million. It is likely to close the first half of 2026 with a very good result of approximately €40 million," said Dr Peters.

Pending decisions on further steps, Dr Hans-Walter Peters will hold executive responsibility for Markets and Client Affairs, while Michael Horf will oversee Risk and Operations. Both will be supported by the extended management team comprising Laura Janssens (Head of Investment Bank) and Frederik Gottlob (Head of Corporate, Wealth and Asset Management).