For much of its 430-year history, Germany’s oldest bank, Berenberg, has stuck close to home. Now, the conservative, privately-owned firm has entered new territory - putting an Englishman at the helm.

David Mortlock, its 45-year-old head of investment banking, was installed as one of two new managing partners on 1 September — the first non-German to take the top job at Berenberg in more than four centuries.