Joh. Berenberg, Gossler & Co. KG, commonly known as Berenberg Bank, is a Hamburg-based multinational investment banking and private banking company, founded by the Belgian-origined Berenberg family in 1590. Having operated continuously since its founding with the same legal identity and the same owning family, it is the world's oldest merchant bank and the world's second oldest bank overall. Its owners, the Berenberg/Gossler family, belonged to the ruling elite of Hanseatic merchants of the city-republic of Hamburg and several family members served in the city-state's government from 1735. Like many other merchant bankers, the Berenbergs were originally cloth merchants. The bank's name refers to Johann Berenberg and his son-in-law Johann Hinrich Gossler, and has remained unchanged since 1791. Berenberg Bank is active in investment banking, particularly pan-European equity research, brokerage and capital markets transactions, in addition to private banking for wealthy customers and institutional asset management. Berenberg Bank has around 1,500 employees; in addition to its headquarters in Hamburg, it has significant presences in London, Zurich, Frankfurt and New York City, and 11 further offices in Europe, the Americas and Asia. The bank is organized as a limited partnership with personally liable partners, and is noted for its conservative business strategy. Following the 2000s financial crisis, the bank has grown rapidly. The current senior partner and head of the bank Hans-Walter Peters is also President of the Association of German Banks.