Berenberg Bank, established more than 400 years ago in Hamburg, has handed a retained brief to MHP Communications to raise the profile of its growing UK private and investment banking operations.
The globe’s second oldest bank – only Italy’s Monte dei Paschi di Siena is older – established its UK business in 2003 and has grown quickly despite the financial downturn. It now has more than 150 UK employees, including more than 70 equity analysts.
It is thought that the bank is looking to boost its media profile, highlighting its principles of socially responsible banking and the benefits of its private-owned partnership structure.
Berenberg previously used Paratus Communications for its UK comms. It chose MHP after a competitive pitch against several financial and corporate specialists, thought to include FTI Consulting and College Hill.
The account will be jointly led by MHP MD Andrew Nicolls and executive chairman Gay Collins.
Nicolls said: ‘Berenberg Bank has brought its fascinating history and heritage into the here and now. We believe it is in a unique position to be able to build an even more successful UK franchise at this time of change for the banking sector.’
The agency will handle the bank’s comms in the UK but also support overall comms strategy alongside Berenberg’s German-based in-house team.
Berenberg’s UK operations focus on European equity and economic research, distribution and execution as well as private banking.
Andy McNally, head of investment banking at Berenberg, said: ‘MHP’s approach fully reflects our vision of how we want to position ourselves in the private and investment banking market.’