Investec Asset Management has hired two analysts from Goldman Sachs who will take $2bn (€2.7bn) of assets back from external energy specialist Tim Guinness, reducing his firm's assets under management by almost three quarters.

Mark Lacey and Jonathan Waghorn join Investec's commodities and resources investment team, which is responsible for over $5bn of assets. Both Lacey and Waghorn were joint heads of Goldman Sachs' energy research unit. They report to Bradley George, head of the team, who also joined from Goldman Sachs two years ago where he worked on the firm's commodity index.