Key facts
- Klaus Naeve, head of investment banking at Berenberg, has left the firm.
- Two individuals will join Berenberg's management board.
- A new head for wealth management at Berenberg has been appointed.
Klaus Naeve, who led Berenberg's investment banking division for 18 years, has left the firm. The German private bank is set to promote two individuals to its management board and has appointed a new head for its wealth management division. The report also notes that major US banks are seeing a surge in wealthy clients, partly due to successful initial public offerings such as SpaceX.