Bergos, which became independent from former parent Berenberg four years ago, closed 2024 with an operating profit of 8.6 million francs – just over 1 million less than in the previous year, according to the recently published annual report.

Total client assets (assets under management or custody) rose from 7.5 billion to 7.8 billion francs – despite slightly negative net new money of -354 million francs.

One-Off Effect on Net New Money

Assets under management excluding custody accounts increased by 7.5 percent to 6.94 billion francs. According to the bank, this figure includes 405 million francs in newly acquired client assets.

Nonetheless, net new money in this segment declined by 296 million francs. This was «mainly attributable to a single case, which led to a substantial outflow of assets, but had only a minor impact on the bank’s revenue.»

“«New Talent»

Operating income declined by around 13 percent to 8.6 million francs, which the bank attributed to targeted investments. Net income after taxes came in at 6.8 million francs, down from 7.8 million the year before.

Following «significant investments in recent years – both in modern IT, including a digital platform, and in deepening and expanding our investment expertise,» the bank now plans to «continue by investing in our existing team of bankers as well as recruiting additional talent.»

Crypto, Art, Shipping

The capital base remains solid: The CET1 ratio stood at 20.3 percent, and the leverage ratio at 7.3 percent (well above the regulatory minimum of 3 percent). The balance sheet total was unchanged at around 581 million francs.

Recently, Bergos also began offering custody solutions for crypto assets through a partnership with Sygnum.

«Human Private Banking»

The bank continues to focus on niche areas such as art advisory, maritime finance, and other private assets – investment classes with a distinctly entrepreneurial character.

Former Credit Suisse and Julius Baer executive Simon Wanzenried was recently appointed head of Private Banking, as finews.ch previously reported (article in German). CEO Peter Raskin aims to position the bank for further growth in the Swiss home market – under the banner of «Human Private Banking.»

Owned by Entrepreneurial Families

The private bank is majority-owned by Swiss entrepreneurial families: Adrian T. Keller (logistics, DKSH) and Michael Pieper (industrialist, Franke) each hold 24 percent.

Another 10 percent each are held by the families of Andreas Jacobs and Claus-G. Budelmann, while Sylvie Mutschler-von-Specht holds 9.5 percent and CEO Peter Raskin owns 5 percent.