UK - Chris Phillips, former chief executive of Royal London Asset Management (RLAM) is to join Scottish Widows Investment Partnership (SWIP) as CEO.
The move has led to the promotion of Andrew Carter at Royal London as chief executive with effect from September 22.
Phillips will take over from Bill Main in December, who retires then after 10 years with the firm.
His appointment follows a three year tenure as chief executive of RLAM, prior to which he was director of strategy at Deutsche Asset Management, London.
Mike Yardley, group chief executive of Royal London, said: “I’m sorry Chris Phillips is moving on after 3 years at RLAM. We wish him well and thank him for his contribution in helping establish RLAM through the integration of the United Assurance and Scottish Life investment areas, the acquisition of Union Fund Management and the creation of Royal London Private Equity.”
Phillips’ successor, Carter, is currently chief investment officer of RLAM, a role he will retain.
RLAM’s Yardley added: said: “Andy is a key member of the current senior team which has helped achieve RLAM’s successful transition to become a substantial fund management house with a distinctive positioning in the market place.
“Together with Andy Carter, David Hughson and Richard James, Chris has helped create a substantial business with particular recent strengths and successes in bond and cash management. The team also deserves credit for its market-leading use of new technology.”
Carter joined RLAM from Gartmore in 2001 where he became head of UK equities in 1999. Prior to that he was with Mercantile & General Reinsurance and Provident Life.
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