Paul Deuchar to step down after building Investec AUM to nearly $24 billion

After more than two decades shaping the investment management arm of Investec, Paul Deuchar is set to step down from a role that has defined a significant part of the firm’s modern growth story. His departure comes after a tenure in which he rose from fund manager to head of Investec Investment Management in 2004, a position he has held for over 20 years while overseeing a steady expansion of assets under management to nearly R400 billion ($24 billion).

Two decades leading Investec unit

Deuchar’s career at Investec began as a fund manager before he rose to head the investment management division in 2004. From there, he led the unit for more than 20 years, guiding its investment approach and portfolio construction through changing market cycles while maintaining a consistent emphasis on long-term investing. He often framed that philosophy in straightforward terms, saying, “As long-term investors, we’re happy to hold on to quality stocks through times of weakness; provided we’re satisfied the investment case holds.”

Founded in 1974 in Johannesburg as a small finance company, Investec has since grown into an international financial services group with operations across 14 countries, serving clients in Europe, Southern Africa, and Asia-Pacific. Its platform now gives clients access to both local and offshore markets, and its investment business has been a core part of that expansion over time. Within that evolution, Deuchar’s leadership has been tied to the growth of the investment management division and its ability to scale assets under management to nearly $24 billion.

Friedman appointed head Investec Investment Management

As he steps down, Investec has appointed Ryan Friedman as head of Investec Investment Management, marking a leadership transition within the firm’s specialist investment arm. Friedman previously led multi-manager investments at the group and was the lead fund manager of the World Axis fund range, which he founded in 2004. That suite of funds has since delivered top-quartile performance and grown assets to $9.5 billion, according to the firm.

Friedman has also played a role in expanding Investec’s strategic distribution partnership in Latin America, adding another layer to the group’s international reach. His appointment, according to chief executive Joubert Hay, reflects the depth of the firm’s investment capability and is intended to support the next phase of development within the business. Deuchar will remain within Investec, continuing to serve clients and contribute to its investment processes even after stepping down from the head of investment management role.