A London bank cut jobs for the first time in three years
Berenberg, the German bank that quintupled its London investment banking headcount between 2018 and 2025, has made some cuts. It's understood to be the first time its trimmed headcount for three years.
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Berenberg declined to comment for this article, but the bank is thought to have cut around 15 people in recent weeks. Most of the cuts are thought to have come from support functions.
Berenberg's investment bank employs 420 people in total, making the cuts just 3% of the total. The bank has hired heavily in recent years. In January 2025, it employed 400 people, so at least 20 were added last year.
Recruits this year include Stuart Duncan, a UK midcap financials analyst who joined from Peel Hunt in April.
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