Berenberg Swiss arm sold to group of investors
A group of investors, Adrian and Andreas Keller, Michael Pieper, Andreas Jacobs, as well as Claus-G. Budelmann, will acquire the majority of Berenberg Bank (Schweiz) AG, together with the current management.
After the closing of the transaction, the company will operate under the name Bergos Berenberg AG. The group of investors will acquire 80.1% of Berenberg Bank (Schweiz).
The former sole shareholder, the Hamburg-based private bank Joh. Berenberg, Gossler & Co. KG (Berenberg), will continue to hold 19.9%. This will help the Swiss private bank to further distinguish itself as an independent institute within the Swiss private banking market.
Bergos Berenberg AG, will continue to provide the full spectrum of services, to which clients have become accustomed to.
Under the new name Bergos Berenberg AG, the bank will continue its activities for entrepreneurs and families, and will increasingly focus on the Swiss market. Continuity in wealth management, investment advisory, as well as the holistic service will remain to be at the core of their activities.
The sale of the corporate shares is subject to approval by the Swiss Financial Market Supervisory Authority FINMA. The parties agreed not to disclose the purchase price. Not affected by the sale are the Swiss Investment Banking and Asset Management activities that will continue as branches of Joh. Berenberg, Gossler & Co. KG in Zurich and Geneva.