Scottish Widows investment chief resigns
UK – The chief investment officer of Scottish Widows Investment Partnership has resigned.
SWIP, which manages around 20 billion dollars of European pension assets, said in a statement that CIO Sandy Nairn has resigned.
“Sandy was appointed CIO in late 2000 and has since completed a successful restructuring of SWIP's equity capability, refocusing the group's investment philosophy and created expert, team-based processes,” SWIP said.
Andrew November, currently head of institutional funds and global strategy, will replace Nairn as CIO.
The firm also announced the resignation of Graham Campbell, the head of retail fund management.
Graham Wood, currently head of international research, will become CIO for equities.
SWIP, part of banking group Lloyds-TSB, has a total of 70 billion pounds (103 billion euros) under management. Nairn and Campbell are believed to be planning to set up their own fund management firm in Edinburgh.