Smaller – German bank is expanding aggressively. Berenberg is growing across Europe and in the U.S. The expansion reflects increasing revenues and headcount. Berenberg’s UK business is expected to do £100m of revenues this year. The investment banking business, run by Chris Bowman with Matt Armitt and with Ben Wright co-heading advisory, now has 40 people up from 10 four years ago, and has priced eight IPOs already in 2020. Berenberg employs 130 equity researchers and 35 equity salespeople in London. Further hires are planned to fill all new space. The New York research team, which currently comprises around 50 analysts is expected to double over time. Berenberg’s enthusiasm for expansion looks like an affirmation of the post-pandemic return to the office.
Berenberg Bank is active in investment banking, particularly pan-European equity research, brokerage, and capital markets transactions, in addition to private banking for wealthy customers and institutional asset management. Since the 2000s the company has increasingly focused on investment banking. Berenberg Bank has around 1,600 employees; in addition to its headquarters in Hamburg, it has significant presences in London, Zurich, Frankfurt, and New York City, and 11 further offices in Europe, the Americas and Asia. After years of expanding its activities in London, which is now the second largest office and seat of most of its investment banking activities, Berenberg Bank has recently focused on expanding in the United States and Asia. The bank is organized as a limited partnership with personally liable partners and is noted for its conservative business strategy. Following the 2000s financial crisis, the bank has expanded rapidly.[6] The current senior partner and head of the bank Hans-Walter Peters is also President of the Association of German Banks.