Germany Federal Financial Supervisory Authority (BaFin) Suspends 3 Senior Management of Germany 436-Year-Old $45 Billion Private Bank Berenberg for Possible Governance Breaches Discovered in Audit of FY2025 with 2 Special Commissioners Appointed to Assume Senior Management Responsibilities, Founded in 1590 by Brothers Hans Berenberg & Paul Berenberg, Businesses Include Wealth & Asset Management, Investment Bank and Corporate Banking
21st June 2026 | Hong Kong
Germany Federal Financial Supervisory Authority (BaFin) has suspended 3 senior management of Germany 436-year-old private bank Berenberg ($44.7 billion AUM) for possible governance breaches discovered in audit of FY2025, with 2 special commissioners appointed to assume senior management responsibilities. Berenberg was founded in 1590 by brothers Hans Berenberg & Paul Berenberg. Berenberg businesses include wealth & asset management, investment bank and corporate banking. Announcement (19/6/26): “By order of the Federal Financial Supervisory Authority (Bafin), the powers of Berenberg’s three members of executive management have been suspended with immediate effect. In the course of the annual audit for the financial year 2025, indications emerged of possible corporate governance breaches. These related, in particular, to certain market transactions of unclear provenance, the investigation of which was hampered by a lack of transparency. As a consequence, executive management responsibilities are henceforth assumed by two special commissioners appointed by Bafin. 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. 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).”
“ Germany Federal Financial Supervisory Authority (BaFin) Suspends 3 Senior Management of Germany 436-Year-Old $45 Billion Private Bank Berenberg for Possible Governance Breaches Discovered in Audit of FY2025 with 2 Special Commissioners Appointed to Assume Senior Management Responsibilities, Founded in 1590 by Brothers Hans Berenberg & Paul Berenberg, Businesses Include Wealth & Asset Management, Investment Bank and Corporate Banking “
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Dr Hans-Walter Peters: “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.”
Berenberg – Berenberg was founded in 1590 and is today one of Europe’s leading private banks with its Wealth and Asset Management, Investment Bank and Corporate Banking divisions. The Hamburg-based bank is managed by personally liable partners and has a strong presence in the financial centres of Frankfurt, London and New York.
Germany Federal Financial Supervisory Authority (BaFin) Suspends 3 Senior Management of Germany 436-Year-Old $45 Billion Private Bank Berenberg for Possible Governance Breaches Discovered in Audit of FY2025 with 2 Special Commissioners Appointed to Assume Senior Management Responsibilities, Founded in 1590 by Brothers Hans Berenberg & Paul Berenberg, Businesses Include Wealth & Asset Management, Investment Bank and Corporate Banking
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