UK - Scottish Widows Investment Partnership (SWIP) has combined its global developed and global emerging markets desks after six investment directors quit the firm for rival investment manager Martin Currie.
Andrew Ness, Jeff Casson, Divya Mathur and Mohammed Zaidi will join Martin Currie's global emerging markets team once they have worked their notice period. They will follow Kim Catechis and Alastair Reynolds, who joined the investment firm from SWIP two weeks ago.
Following the exodus SWIP has appointed Mike McNaught-Davis as head of the new international equities desk, managing an eight-strong team of investment directors.
McNaught-Davis - himself a former Martin Currie Asset Management global stock manager - has yet to make a decision on potential replacements for the six who have left.
A SWIP spokeswoman insisted the decision was part of a "strategic review" rather than a reaction to the departures. She added that all six had left to pursue "new challenges and opportunities" and would continue to work with McNaught-Davis to ensure a smooth handover and continuity of service for clients.
Martin Currie chief executive Willie Watt said the additions had given the firm a "globally competitive emerging market capability".
He added: "Emerging market equities is an increasingly important asset class - but there is a lack of high calibre teams in the marketplace. Over the last 22 years, Kim Catechis has built a first-rate process and team; we are delighted this capability is now housed at Martin Currie."
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