Based on surviving accounts of the Welser Company of Augsburg and the autobiography of its employee Lucas Rem, the essay demonstrates that the firm was confronted with a deep crisis during the second decade of the sixteenth century. The main symptom of this crisis were significant withdrawals by partners and long-time employees between 1513 and 1515, which gravely weakened the company’s capital base. The essay seeks to identify the disruptions that caused these withdrawals, arguing that they did not result from failed management strategies or problems on European markets for capital and goods, but rather constituted a crisis of trust. The firm’s director Anton Welser had prompted a public scandal when he entered into a relationship with the religious ascetic and “prophet” Anna Laminit, which apparently damaged the relations of trust within the firm. The essay further shows how the company successfully overcame this crisis through generational change and a restructuring of its corporate governance. This enabled the Welser Company to not only continue its business operations, but actually expand them during the 1520s and 30s.