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Family BerenbergThe oldest banking dynasty.
Country:
 Germany |
Content:
- The Oldest Banking Dynasty
- The Origins in Bergisches Land
- The Rise of the Banking Dynasty
- The Succession of Johann Berenberg
- The Marriage to Ludwig Erdwin Seyler
- The Industrialization and Philanthropy
- The Last Member of the Berenberg Family
The Oldest Banking Dynasty
The Berenberg family is one of the oldest banking dynasties, with a history spanning over 400 years. The Berenberg Bank is the second oldest bank in the world. British academic and historian Sir Richard J. Evans referred to the Berenberg family as a "prominent business family." But how did the family business begin? What happened when there were no male heirs left in the family? And who was the last member of the family to work directly in the Berenberg Bank?
The Origins in Bergisches Land
The Berenberg family traces its origins to the region of Bergisches Land, in the Duchy of Berg. The earliest known ancestor of the family, Tilman Berenberg, was born in 1465 and was a cloth merchant. His son, Jan, moved his family to Antwerp in 1515 and became a burgher there. Jan's son, Paul, followed in his grandfather's footsteps and became a merchant in Antwerp. Paul married Anna Cricart and became the father of two sons, Hans and Paul Jr. The Berenberg family was one of 130 Dutch families that converted to Lutheranism during the Reformation. They left Antwerp in 1585 after it fell to Alexander Farnese, fearing Spanish violence or forced conversion to Catholicism. Many Dutch refugees settled in Hamburg, including Hans and Paul Jr. In 1590, the brothers founded a trading house, now known as the Berenberg Bank.
The Rise of the Banking Dynasty
Hans Berenberg's son, also named Hans, married Rutger Ruylant, the daughter of a lawyer who was granted a noble title by the Holy Roman Emperor in 1622. Their son, Cornelius Berenberg, was the first in the family to engage in direct investments and helped the family business grow into a commercial bank. He became a citizen of Hamburg in 1648, elevating the Berenberg family to the city's ruling class. Cornelius' son, Rudolf, was elected as a senator in 1735.
The Succession of Johann Berenberg
By the mid-18th century, the Berenberg family's trading house actively engaged in investment banking and bill credits. Rudolf married Anna Elisabeth Amsinck, the daughter of a merchant from a wealthy Welser family. They had four children, including future senator Paul Berenberg and Johann Berenberg, who would eventually become the sole owner of the Berenberg Bank. For nearly two centuries, merchants, bankers, and senators of Hamburg were born into the Berenberg family. However, when all male members of the family line died out, the female relatives of Johann took charge of the bank. After the death of childless Paul Berenberg in 1768, Johann made his son-in-law Johann Hinrich Gossler a partner in the bank. Johann Hinrich was married to Elizabeth Berenberg, who was known for her intelligence, culture, and kindness. Despite their arranged marriage, Elizabeth managed to be an exemplary wife and mother, outliving her husband by 32 years and effectively co-leading the Berenberg Bank.
The Marriage to Ludwig Erdwin Seyler
Johann Gossler's eldest daughter, Anna Henriette Gossler, married Ludwig Erdwin Seyler, the stepson of actress Friederike Sophie Seyler and son of Abel Seyler, a prominent patron of German theater in the late 18th century. Through his father's lineage, Ludwig came from families belonging to the Basel patriciate, while his mother's family were pharmacists and owners of the company "Andreae & Co." in Hanover. After Johann Gossler's death in 1790, Ludwig Seyler changed the bank's name to "Joh. Berenberg, Gossler & Co." During the Napoleonic Wars, the bank's headquarters were located in the house of Ludwig's brother-in-law, Gerhard von Hosstrup.
The Industrialization and Philanthropy
In the 19th century, the descendants of the Berenberg-Gossler family actively participated in the industrialization of northern Germany, engaged in trade, and financed projects in North America. In 1847, the Berenberg-Gossler family played a major role in the founding of the Hamburg America Line, a shipping company, and in 1857, they were instrumental in establishing another shipping company, Norddeutscher Lloyd. During the Nazi era, the Berenberg-Gossler dynasty, especially Baron Cornelius von Berenberg-Gossler, made every effort to assist their Jewish friends and like-minded individuals in Hamburg who were being persecuted. In 1939, they helped release the banker Fritz Warburg.
The Last Member of the Berenberg Family
Joachim von Berenberg-Consbruch was the last member of the Berenberg family to remain an active partner in the Berenberg Bank until 2005. The Berenberg family now owns 25% of the bank, but none of its members are actively involved in its management. The last family member to work in the Berenberg Bank was Countess Jennifer von Bernstorff, the great-granddaughter of Cornelius von Berenberg-Gossler.
