The move will see the duo join the private bank on October 1, with Born serving as chief investment officer for equities and Kraus being assigned to take over the small- and mid-cap equity team.
Berenberg, which is based in Hamburg, said the addition of the two managers was part of its plans to expand its asset management division, which was announced as a strategic aim at the start of the year.
Born had been with AllianzGI since 2001 and overseen both European and German equity funds, including a number of its largest funds, such as the Allianz Euroland Equity Growth and Allianz Europe Equity Growth Select funds.
Meanwhile, Kraus ends 11 years with the Frankfurt-based asset manager to assume his new position. He had overseen the Allianz European Micro Cap fund and been consistently Citywire rated dating back to September 2015.
The departure of Born leaves Thorsten Winkelmann as sole lead on the Allianz Europe Equity Growth Select and Wachstum Europa funds. AllianzGI was approached for comment on who would replace him on his other strategies from October.