UK - Scottish Widows Investment Partnership has hired former Royal & Sun Alliance global funds head Tim Scholefield as head of international research and global sectors.

“Tim joins from Royal & Sun Alliance Investments where he was director of worldwide equities and his fund management responsibilities included head of global funds and head of North American equities,” the Edinburgh-based asset management company said.

Scholefield, 39, will join SWIP at the end of this month. He takes over from Graham Wood, who was recently named chief investment officer for equities and retail.

SWIP, owned by UK bank Lloyds TSB, has around 70 billion pounds (euros) in funds under management, of which around 20 billion dollars are European pension assets.

Wood said: “Tim’s considerable experience in developing investment process and in building and managing successful investment teams, will be invaluable to us as we continue to roll out research driven fund management and I’m delighted to welcome him to our team.”

Scholefield's replacement at RSA was Andrew Hudson.