Investec Asset Management has restructured the management of its UK business as David Aird, managing director for the retail business, takes a wider remit. Mr Aird joined IAM in 2000 from Gartmore and was appointed managing director of the retail business in 2002, becoming sole managing director in 2005. He now leads the firm’s institutional and retail businesses in both the UK and Ireland. Frank Doyle will take on enhanced responsibilities within his role as head of UK and Ireland institutional sales, reporting to Mr Aird. Mr Doyle joined in 2006 from Citigroup. The current head of UK institutional, Mark Samuelson, is off to Australia to open a Sydney office, IAM’s first on that continent. He will relocate to Australia at the end of 2007 in order to take on his new position as managing director of Investec Asset Management (Australia). He is a founding member and a director of IAM. Hendrik du Toit, chief executive, said: “The UK marketplace is changing, and we need to structure our business to focus on this reality. More pension funds are investing via pooled funds, whilst family offices, private banks and high-end discretionary IFAs are increasingly requiring institutional-style levels of service and information about our products. Mark’s original contribution was to the growth of our business in South Africa, where he established and led the institutional business to become a market-leading proposition in that territory. His new challenge will take him to yet another new continent, where he will be tasked with positioning our high-performance product range in Australia, the world’s fourth largest institutional market.”