Investec has boosted its multi-asset team with the hire of ex-Schroders fund manager Michael Spinks.

Spinks (pictured) is set to join Investec at the end of October and will head the UK-based multi-asset team, which runs $13 billion.

He will work alongside Phillip Saunders, global head of multi-asset investments.

Earlier this week Wealth Manager revealed that Spinks had decided toleave the eight-strong multi-asset team at Schroders, where he worked as co-manager of the Schroder Diversified Growth fund and the Schroder Completion fund alongside Johanna Kyrklund and Tim Carr, respectively.

Investec said it was pleased Spinks had decided to come on board, adding that the move will boost its position in multi-asset investing.

‘We are delighted to welcome Michael’s experience and insight to our investment team to capture the investment opportunities we see evolving in this area,’ co-chief investment officer Domenico Ferrini said.