Du Toit, Aird and senior staff to take 15% stake in Investec AM

Investec Asset Management CEO Hendrik du Toit, managing director of UK distribution David Aird and other senior employees are to acquire a 15% stake in the business for £180m.

The purchase is being made by 40 senior managers and employees at Investec, led by du Toit, and is expected to take place by the end of July, subject to Investec shareholder approval. The buyers also have the option to acquire another 5% of the business over the next seven years, Investec said in a statement. Along with du Toit and Aird (pictured), the 40-strong group includes Investec AM CIO John McNab, co-head of fixed income Andre Roux, and Philip Saunders, head of the Global Asset Allocation team. "Investec and Investec Asset Management strongly believe that institutional clien...