Two former private banking stars at Barclays Wealth, who left the firm last summer, have resurfaced to lead the UK business of Germany’s oldest wealth manager.

Ross Elder and Fred Hervey have joined Berenberg Bank as managing directors. The firm has run a traditional asset management and investment banking business in the UK since 2003 from its offices in Threadneedle Street but it will now, for the first time, offer wealth management services.