Hendrik Riehmer, the former chief executive of Berenberg Bank, has initiated legal proceedings against the German financial regulator BaFin.
The lawsuit challenges the extraordinary supervisory order that forced Riehmer out of his post, marking a sharp escalation in the turmoil surrounding the historic private bank.
The intervention by the supervisory authority underscores the severity of the regulatory concerns.
Riehmer’s removal was not a voluntary departure but a forced exit driven by BaFin’s assessment of governance risks.
The legal challenge suggests that Riehmer disputes the regulator’s findings and intends to contest the decision in court.
This development adds another layer of uncertainty for Berenberg Bank, which has been navigating a period of significant internal and external pressure.