Investec Wealth & Investment has appointed an internal senior fund selection specialist as its chief investment officer, tasked with overseeing the creation of the Investment and Research Office.
Stacey Parrinder-Johnson, who joined Investec in 2005, will lead the development of the unit, which will bring together Investec's portfolio construction and research teams.
Current chief investment officer Chris Hills will move to a chief investment consul role, "working closely with Stacey and her leadership team".
Parrinder-Johnson initially joined the firm as a member of its Leeds discretionary desk, before moving to the research team in 2013.
She has managed portfolios in the UK and South African business and the firm said she has been a key figure in developing the group’s ESG and sustainability offering.
Barbara-Ann King, chief commercial officer at Investec Wealth & Investment, said: “This is a very important appointment for us, key to our ambition to grow our market share, and Stacey will play a significant role in shaping the future of Investec Wealth & Investment.”
Parrinder-Johnson added: “I’m delighted to be taking up the role of CIO at this exciting time for Investec, and the creation of the Investment and Research Office will bring together our portfolio construction and research capabilities under one function.
“This will allow us to further capitalise on our relationships with our banking and South African wealth divisions, to engage our entrepreneurial spirit in developing exciting new propositions for our clients, and to deliver our purpose of creating enduring worth, living in – and not off – society.”
Investec Wealth & Investment UK has seen a number of internal changes since King was appointed chief commercial officer in October 2020.
In June it combined its financial planning and wealth planning services into a new advice arm.
Michelle Holgate and Sarfraz Hafeji were appointed co-heads to lead the wealth advisory business.
The group has also seen a number of internal hires, including Aedin Watts as chief of staff, and Stewart Teague as head of commercial transformation and product development.
In its full year results released in May, the firm posted an 18 per cent increase in operating profit for the year to the end of March after benefitting from a strong second half.
Profits increased to £74m, up from £63m last year while net inflows were £1.1bn, and funds under management rose to £42bn from £33bn last year.
Last March the firm completed the de-merger of its asset management business, which rebranded as Ninety One.