Investec has hired former JP Morgan fund manager James Elliot for the newly created role of head of multi-asset.
Mr Elliot resigned after two decades at JP Morgan on April 1 and will take up his new role at Investec on July 1.
Investec Asset Management UK’s multi-asset business has assets under management of about £19bn.
The new head of multi-asset role will sit alongside the current co-heads of multi-asset growth, Philip Saunders and Michael Spinks, and head of multi-asset income, John Stopford.
Domenico Ferrini, co-chief executive of Investec Asset Management, said: "James’s appointment to lead our experienced and established multi-asset team underscores our commitment to delivering market-leading multi-asset investment solutions for our clients.
"James brings with him a wealth of invaluable portfolio management, product and leadership experience, which will help to take our multi-asset investment capability to the next level and allows us to compete meaningfully on a global stage. We are delighted to welcome him to the business."
Elsewhere, increasing levels of demand from clients for multi-asset products has led to HSBC Asset Management to promote Joe Little and Jean-Charles Bertrand to the newly created roles of co-chief investment officer for multi-asset.
The duo are both long standing HSBC Asset Management employees, working on the multi-asset desk, and take on the new roles in addition to their current responsibilities.