Berenberg Bank (Switzerland) Ltd
Origin of Berenberg Bank (Switzerland) Ltd
In 1590 Hans and Paul Berenberg founded their trading house business in Hamburg. In 1711 they changed their business to a bank.
The owners of the bank have a personal liability; therefore, the Berenberg Bank has a high-level of management continuity and strict risk management. During the over 428 years of history, the bank had only 38 different partners with personal liability.
Berenberg Bank (Switzerland) Ltd was established in 1988 and is an independent and autonomous Swiss bank. The bank has offices in Zurich and Geneva and assists international and domestic clients in managing their assets.
Berenberg is one of the leading asset managers regarding cost-effectiveness and profitability.
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Philosophy and Strategy
With a history of over 428 years, the bank offers unique continuity and stability. Berenberg Bank (Switzerland) works very closely with the parent company in Hamburg and has, therefore, access to an international network. The reasonable size of Berenberg (Switzerland) allows them to act rapidly to market changes and client needs.
The strategy of Berenberg is sustainable and continuous growth. The culture is to focus consistently on client’s needs.
Joh wholly owns the share capital of Berenberg (Schweiz) AG. Berenberg, Gossler & Co. KG, Hamburg. Two personal liable partners manage the parent company, Dr. Hans-Walter Peters and Hendrik Riemer. The shareholders of Joh. Berenberg, Gossler are:
30.4 % Berenberg family
26.1 % PetRie (Dr. Hans-Walter Peters and Hendrik Riemer)
1.5 % Former Managing Partners
15.0 % Christian Erbprinz zu Fürstenberg
15.0 % Professor Dr Jan Philipp Reemtsma
12.0 % Compagnie du Bois Sauvage S.A.
Services and Solutions
Bank Berenberg (Switzerland) has a very sophisticated investment and advisory model. The target groups can be approached in a very modern way. The continuously changing living conditions and new challenges posed by further digitalization can be met easily.
Berenberg Bank focuses on Private Banking and Asset Management and concentrates on family offices, wealthy private clients, shipping clients and professional athletes.
For Berenberg Bank art is not only a collection but also a valuable component of a balanced portfolio.
The bank offers professional and international art consultancy services from Switzerland for their local clients and the clients of the whole Berenberg Group. The services include advice in building, developing and dismantling an art collection and support with restoration and transport issues.
The Investment Service division is comprised of three units, the asset management, the fund management and the active advisory.
They pool and process all the expert opinions available to the private banking division. The contents are from the investment committee, the macroeconomic analyses by the Berenberg Group and the equity research based in London.
The Asset Management unit has a stable and long-standing group of experts. With the actively managed strategies, they can use right market timing and superb stock selection to achieve above-average returns.
Berenberg’s Active Advisory is continually improving its investment advice. The portfolios are monitored centrally, and the international active advisory team provides advisors with proactive support in their daily business for all asset classes. This ensures excellent advice tailored to the client’s needs.
The Active Advisory team is also responsible for the two special purpose funds, the Berenberg Diversified Fund and the Berenberg Asian Bond Opportunities Fund.
The Fund Management team is responsible for selecting equities in the field of “Developed Markets Large Caps.” To select the stocks the team uses the own developed “Stockpicker” model. More than 6’000 individual securities are analyzed across the globe.
The subsidiary, Bergos AG, offers comprehensive family office services. The structure and manage complex assets.
Berenberg Bank (Schweiz) takes a very conservative approach towards the risks to the banking business in general and particularly to the core business which is asset management and advisory services. Uniformed standards, which are periodically reviewed, identify, manage and put limits on the risks.
The lending business of Berenberg Bank is mainly limited to Lombard loans, collateralized customer loans. Interbank business is mostly short-term, and the Berenberg Group covers long-term activities.
Berenberg Bank solely executes trades for their clients and never trades for their account.
The Board of Directors is assessing the risks to which the bank is exposed and has adopted a framework concept to define the risk policy, the limits and the tolerance. The risk and activity report, which shows the most significant risks to which the bank is exposed, is presented to the Board of Directors regularly. The report shows measures and controls implemented to avoid reputational risk and financial damage.
In 2017 the operating profit increased by 24% to 9 million CHF compared to 2016. The headquarter in Zurich, as well as the branch in Geneva, showed a strong performance.
Inflows and outflows of assets were balanced in 2017, but the assets under management increased by 8 % to 6.8 billion CHF.
In 2016 the advisory team in London was relocated to Geneva. This move was a significant contributor to the earnings growth.
At the end of 2017 Berenberg Bank held 60 million of first-class bonds as financial assets.
Relationship managers who want to change can find an attractive partner with Berenberg Bank (Schweiz) AG.
The bank offers individually guided tours of the prestigious art fairs in Basel, Miami, Paris, London and Hong Kong.
Berenberg offers an annual platform for family entrepreneurs and business leaders with presentations on topical themes.
Berenberg Bank (Switzerland) Ltd – Facts & Figures
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|Phone||+41 44 284 20 20|
|Year of foundation||1988|
|No. of employees||99|
|Shareholder’s equity||37.8 mm CHF|
|Assets under Management||6.774 bn CHF|
|Assets under Management / Employees||68.424 mm CHF|
|Net profit||5.7 mm CHF|
|Net Profit / Employees||57’575 CHF|
|Tier 1 Ratio||21.8 %|
|Cost / Income Cost Ratio (CIR)||74.7 %|
|CEO||Dr Peter Raskin|
Source: Annual Report 2017