The two men formed part of an exodus of talent from DeAM last September, as reported by Financial News on September 19.
Elsewhere, Steffen Leipold, who used to be a marketing executive at DeAM’s DWS German business has become a director of Deutsche Vermögensberatung (DVAG), a large group of German financial advisers, according to a person familiar with the firm.
Henning Gebhardt, a former star manager at DeAM, was confirmed as the new head of asset management at Berenberg, the private bank, on November 21.
Benevento used to be chief investment officer at DeAM in America, while Fitzpatrick was head of US equities. According to a statement from Aristotle, Benevento will take the title of chief investment officer, while Fitzpatrick will become lead portfolio manager, looking after large cap stocks.
Aristotle comprises a group of family-owned managers which use its centralized support infrastructure. Richard Hollander, chairman of Aristotle, said: “Joe, Owen and their analyst team fit our model perfectly. We believe the team will thrive in our carefully crafted environment.”
Steffen Leipold used to be head of active retail coverage for Germany and Austria at DWS. Thorsten Michalik, a former head of DeAM’s passive business took his place. “Now Leipold will help to decide the extent to which DWS funds will be used by DVAG”, the person familiar with the latter firm said.
Nicolas Moreau became chief executive of Deutsche Asset Management in early October, amid speculation reported by Financial News on October 7, but not confirmed by Deutsche, that it would be floated on the stock market.