EUROPE – Scottish Widows Investment Partnership (SWIP), the asset management arm of the Lloyds TSB group, has named Peter Zurhorst as head of its business in northern Europe with specific responsibility for expanding institutional business in Germany.
Zurhorst, 38, left his position as a director at Dresdner Kleinwort Wasserstein where he ha been for three years. A spokesperson for DrKW stated that he left as a result of a restructuring of its financial institutions group in March 2005. As a result, there is no direct replacement.
Previously, Zurhorst was an executive director at UBS Warburg – one of the three business groups of UBS AG, which also includes UBS Switzerland and UBS Asset Management.
Zurhorst will be based in London and report to SWIP international managing director Chris Walker.
“Peter joins us at a senior level and demonstrates our commitment to the German market,” said Walker. “So far we have concentrated on opportunities in real estate, but we intend broadening our approach to other areas of core strength.”
Zurhorst will have a specific focus on German partnership opportunities with banks and other financial institutions.
This is a new position at SWIP, and he will form part of a 14-strong international business team. A SWIP spokesperson told IPE that it was likely that Zurhorst, who is a German national, would also establish his own team.