Paul Berenberg, IV, Senator

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Paul Berenberg, IV, Senator

Also Known As: "Senator Berenberg"
Death: Died
Immediate Family:

Son of Rudolph Berenberg, I and Anna Elisabeth Amsinck
Brother of Cornelius Berenberg; Rudolf Berenberg, II and Johann Berenberg, III

Managed by: Karin Gullhav
Last Updated:

About Paul Berenberg, IV, Senator

In 1768 Senator Paul Berenberg (IV) died childless. His brother Johann together with whom he had managed the business lost his only son in the same year. Over 175 years five generations of the Berenberg family had given their name to the company and adapted it very successfully to the changing times. Now only Johann Berenberg’s only daughter Elisabeth remained as heir.

To ensure the continuation of the business beyond his death Johann Berenberg (III) opened it up to a new partner. He found him in Johann Hinrich Gossler, the scion of a Hamburg family which had been resident in Hamburg since the 14th century. Gossler had learnt his trade at Berenberg’s, went to Cadiz in 1761, then worked in France and returned to Hamburg in 1768 – an experienced businessman who had both fluent command of three languages as well as a broad general knowledge and varied interests.

He asked for the hand of Elisabeth Berenberg, they married in December 1768 and shortly afterwards he joined the business as a partner which he managed forthwith with his father-in-law under the name of »Johann Berenberg & Gossler« until Johann Berenberg (II) died in 1772.

Johann Hinrich Gossler brought fresh energy to the business. Without giving up goods trading he focussed on the financial side of the business and successfully developed it to a considerable degree. In 1788 he took on a new partner: Ludwig Edwin Seyler who had also learnt his trade in the company and was married to Gossler’s eldest daughter Henriette. In 1791 the name of the house was changed to »Joh. Berenberg, Gossler & Co.« – and has remained unchanged since then. After more than two hundred years in business in the course of which the name also changed with the various owners, the company’s title was now fixed. The value which the respected name carried was recognised

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Paul Berenberg, IV, Senator's Timeline

Age 52