MONEY MANAGEMENT

Berenberg recruits equities CIO

Matthias Born was named chief investment officer equities at Berenberg, said a spokesman.

The position is new, and Mr. Born starts in October.

Peter Kraus will also join in October, taking over the leadership of Berenberg's small- and midcap team. Mr. Kraus' title is not yet known, said the spokesman, but the position is new.

The roles are part of bank's expansion to create a wealth and asset management division — a move announced at the beginning of this year, added the spokesman.

“We want to continue growing in wealth and asset management and will further add our strengths as announced with top-class experts,” Henning Gebhardt, head of wealth and asset management at the bank, said in a news release.

Messrs. Born and Kraus both join from Allianz Global Investors, where they were co-lead portfolio manger and senior portfolio manager, respectively, of European micro-, small- and midcaps.

Thorsten Winkelmann, managing director and lead portfolio manager, will become the sole head of the long-standing European growth team following Mr. Born's departure, said a spokeswoman at Allianz GI.

“There will be a handover of (Mr. Kraus') responsibilities to the other members of the team but we do not envisage any significant changes to the general investment philosophy and structure of those portfolios,” she added.

Both will depart in September, the spokeswoman said.