Staveley joins from River and Mercantile, where he was responsible for running its UK Equity Smaller Companies and UK Equity Income funds. Before that, Staveley was head of UK small company investments at SGAM.

In his new role, Staveley will co-manage circa £600 million (around $912 million) of small and mid cap investments alongside Adam Parker, the firm said.

Majedie Asset Management was established in 2002 and is an investment boutique that specialises in equities.