Henning Gebhardt, the star German fund manager who left DWS last year to join private bank Berenberg, has raided rival Allianz Global Investors to add two top stock-pickers.

Matthias Born, Allianz's co-head of European growth equities and manager of its flagship Concentra German equity fund, and Peter Kraus, who specialises in small-cap European stocks, are both set to join Berenberg on October 1, the firm said in a statement.