UK - Investec Asset Management has promoted the head of its South African fixed income team, John Stopford, to head up the firm’s fixed income business.

Stopford joined the company in 1993 and for the last five years has been involved in building the company’s fixed income business in South Africa.

He succeeds Paul Griffiths, who joins Axa Investment Managers as UK chief investment officer.

“John’s strengths are a combination of intellectual rigour, an excellent investment record and the necessary client experience,” said Hendrik du Toit, chief executive officer of Investec.

Du Toit also claimed that Investec’s globally integrated specialist fixed income team had won new UK institutional mandates worth £1bn in 2003.

Investec has also hired Andrew Farrell from Invesco Asset Management as a senior sterling portfolio manager.

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