James Hatuikulipi of Investec Asset Management has resigned with immediate effect and Ricardo Gustavo has been suspended following media reports on a corruption scandal involving fishing quotas worth millions of dollars. Due to the serious nature of these allegations, Gustavo’s suspension is pending the outcome of the company’s ongoing independent investigation. In a media statement, Investec’s business manager for Africa Gwynneth Rukoro said although the alleged activities were conducted in their private capacity, Investec Asset Management takes allegations of this nature very seriously and their internal investigation into the matter is ongoing and they will remain open to cooperation with the authorities.