BayernLB and Berenberg confirm strategic partnership
German Landesbank BayernLB and investment bank Berenberg have announced a strategic partnership, in order to advise German clients on major capital transfers and loan provisions.
Bayern LB acts as a lender to German Mittelstand and DAX or MDAX-listed companies while Berenberg aims to bring in its capital markets business extertise, including its experience as an advisor to IPO’s in the German-speaking world.
Jörg Riegler (pictured left), CEO of BayernLB comments: “Corporate customers of today are looking more towards specialised banks that provide top quality and personal, unbureaucratic service. At the same time, equity capital consulting, M&A’s, capital increases and IPOs are all closely meshed in today’s business world. This new strategic partnership is our way of adapting to precisely these developments.”
Hans-Walter Peters (pictured right), partner at Berenberg, stressed: “For companies in the country that lean towards capital markets, and for Mittelstand and large companies here, this revolutionary partnership will be an excellent alternative to the American banks and remaining handful of big German and European banks. We’re going to see a model for high-volume business that unites transaction management in investment banking with the financing expertise and lending products of one of Germany’s top commercial banks.”