The managing partner of Berenberg, Germany’s oldest bank, is under investigation over an insider-trading scandal that allegedly yielded more than €3m for two suspects.
Police searched Hendrik Riehmer’s home on February 27, according to a spokeswoman for the Hamburg prosecutor’s office.
The case revolves around tourism group TUI’s 2017 sale of its stake in Germany’s top liner, Hapag-Lloyd.
Officials raided two Berenberg locations and two private addresses on February 27. The bank, which was sole global coordinator and bookrunner in the TUI sale, is not a target in the probe, prosecutors stressed yesterday.