is making the move from Hong Kong to the United States to take over the duties vacated by James J. Atkinson, Jr.
at Investec Asset Management
. Brennan, who had been managing director of Asian operations at the firm will take the duties of managing director of U.S. operations. Atkinson had resigned that post to take a position at another firm, according to the company.
Investec was formerly known as Investec Guinness Flight and is headquartered in South Africa. The firm merged with London-based Guinness Flight Asset Management in 1998. The family of seven Guinness Flight mutual funds (they will likely be renamed to Investec funds) currently have assets of just under $500 million in the United States.
"Royce Brennan's personal experience in Asia through a variety of market environments and political developments makes him the perfect person for this position," said Brett Comley
, executive director, who oversees Asia and the Americas for Investec Asset Management. "With Asian investing being one of the main strengths of the Guinness Flight funds, Mr. Brennan arrives in the US just as the WTO agreement with China and other economic factors are once again stirring the interests of American investors in the Asian markets."
"As much as we appreciate what Royce brings to this position, we sincerely regret the departure of Jim Atkinson," added Comley. "Jim played a critically important role in establishing the Guinness Flight operations in the United States in 1994, and then in recent years developing funds that established the firm as a leading player in helping individuals invest in the new economy. We will miss Jim very much, and we wish him well in his new endeavors."
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