Investec Asset Management has poached Aviva’s Alasdair Prescott (pictured) for the newly-created role of head of UK adviser and strategic partners, as the firm builds out its wealth team.
Prescott will lead Investec AM’s strategic partnerships, sub-advisory relationships, and the firm’s relationships in regional UK.
He joins from Aviva Investors where he began in 2017 and was head of London wholesale sales. Prior to this, he worked as a senior member of the UK wealth manager sales team at JP Morgan Asset Management for six years.
This follows the announcement that Aviva’s chief executive Mark Wilson has decided to to step down from his role immediately, but will stay with the firm until April.
Alongside Prescott’s appointment, Investec AM also promoted Rodger Kennedy from sales director to head of London wealth. He has worked at the firm for 17 years in a variety of sales role.
In this new role, Kennedy’s team will be dedicated to managing the firm’s engagements with London-based wealth managers, private banks, national wealth managers and global financial institutions.
Both Prescott and Kennedy will report directly to David Aird, managing director at UK Client Group.
Aird said: “Our aim is to create a team structure that can engage effectively with our clients across the UK market and build upon the long-term growth opportunities we see for the business. We are enjoying strong net flows and our range of investment strategies are more relevant to UK advisors and wealth managers than ever before.”
Last month, parent company Investec announced its plans to float its £109bn investment business as a separate entity, Investec Asset Management.
Like the parent group, Investec AM will be dual listed on the London and Johannesburg Stock Exchanges.
