UK - The chief executive officer of Scottish Widows Investment Partnership (SWIP), Chris Phillips, has died unexpectedly during a walking vacation in Spain.
The 50-year-old died on 4 April 2007. Details of the incident are still being investigated by the Spanish authorities but it is believed that the onset of poor weather condition on the mountains was a factor.
Phillips announced his departure from SWIP in January and was due to join Morley Fund Management this summer.
He took up the position of CEO at SWIP in 2003 and prior to that he was CEO at Royal London Asset Management.
His investment career started at Morgan Grenfell in 1983, having graduated from St Catherine’s College, Oxford, in Philosophy, Politics and Economics in 1977.
He was also chairman of the Association of British Insurers’ Investment Committee.
Commenting on the news, Archie Kane, chief executive of Scottish Widows, said it was a sad day for the company as Phillips was hugely respected across the industry and deeply liked by all his colleagues.
Kane said: “He played a significant part in re-establishing SWIP as a leading player in the competitive asset management sector and he will be greatly missed by all who knew him. Our thoughts and sympathies are extended to his wife Liz and family."
An innovative funding structure has been agreed for Croydon Pension Fund. However, there are some concerns about the arrangement. Stephanie Baxter reports
Some 52% of red flags raised by schemes on suspected scam pension transfers involve advisers or unregulated introducers, a report by the Pension Scams Industry Group (PSIG) has claimed.
The Norfolk Pension Fund has been successful as the lead plaintiff in a class action case that went to jury trial in California involving securities fraud.
In this week's Pensions Buzz, we want to know whether bosses should have to pay into the same staff DB scheme as their workers rather than their own executive pension fund.