BaFin Ousts 3 Berenberg Executives After Flagging Governance Breaches
Updated
Updated · Bloomberg · Jun 22
BaFin Ousts 3 Berenberg Executives After Flagging Governance Breaches
1 articles · Updated · Bloomberg · Jun 22
Summary
Three top Berenberg executives, including managing partner Hendrik Riehmer, were effectively forced out after BaFin flagged possible corporate-governance breaches at the German bank.
Berenberg said the removals followed the regulator's concerns, making governance failings—not trading losses or capital stress—the trigger for the leadership shake-up.
Riehmer had helped transform the world's second-oldest lender from a wealth manager serving affluent families into an investment bank competing for deals in London and New York.
The ouster marks an abrupt reversal for one of Berenberg's most prominent expansion architects and puts the bank's governance under sharper regulatory scrutiny.