Berenberg boss under investigation over insider-trading linked to Hapag-Lloyd

Berenberg boss under investigation over insider-trading linked to Hapag-Lloyd

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.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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