Investec’s Bradley George has stepped back as head of the commodities & resources team to take up a new role as managing director of the firm’s North America client group.
Mr George will also stop managing a range of Investec’s commodity funds when he changes jobs in April.
Investec said Mr George was taking up the new North America role in order to help the firm “grow our business in this key strategic market”.
Management of the Investec Global Gold fund will be handed to George Cheveley and Hanré Rossouw.
Tom Nelson will replace Mr George on the Enhanced Natural Resources, Global Natural Resources and Global Commodities & Resources funds, co-managing the range with George Cheveley.
Investec said Mr Nelson, who had spent several years at Guinness Asset Management before joining Investec in 2012, would “work closely with Bradley George over the coming months to ensure a smooth succession”.
Ratings agencies have so far reacted cautiously to the announcment.
Morningstar has placed its bronze rating on the Investec Enhanced Natural Resources fund under review due to Mr George’s departure.
Meanwhile, the Adviser Centre has removed both the Investec Global Gold fund and the Investec Enhanced Natural Resources fund from its recommended list.