Investec, the South African financial services group which began marketing its forthcoming London listing this week, has made a second significant summer addition to its much scrutinised media research team.

The signing of Malcolm Morgan, a small cap specialist from Williams de Broe, following on from the arrival of star analyst Meg Geldens from Merrill Lynch in May, sees the bank's top-rated media team return to full strength after the departure in January of Louise Barton, the analyst who is now suing the firm for sexual discrimination.