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Hamburg: Europe’s invisible private banking hub

Aerial View Of City Buildings Against Sky
Photo: Getty Images

A city packed with private banks is quietly serving the needs of a large and wealthy part of northern Germany, yet it remains generally unnoticed as a wealth management powerhouse.

private banking survey results

“This is how everyone imagines what a private bank looks like,” Axel Rogge smiles, spreading his arms wide.

He’s not wrong.

Rogge is a senior director and head of institutional clients, Germany, at Bethmann Bank. Dutch owned and Frankfurt headquartered it may be, but Bethmann’s offices on Harvestehuder Weg are pure Hamburg.

We’re sitting in a broad, airy space – it’s too disjointed and sprawling to be considered a room – with vaulted ceilings.

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Elliot Wilson headshot.jpg
Global Private Banking and Wealth Management editor
Elliot Wilson is Greater China editor and Private Banking and Wealth Management editor. He joined the magazine in 2020 having been a regular contributor focusing on China and the Indian subcontinent, Russia and Eastern Europe/the CIS. He is based in Hong Kong.
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