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Double blow for Swip as CIO and retail chief quit

Scottish Widows Investment Partnership has been left reeling after

the double resignation of its chief investment officer and head of

retail fund management.

The departures of CIO Sandy Nairn and head of retail Graham Campbell

are a huge blow to Swip, which has made great strides after the

turmoil of its absorption into Lloyds TSB group in March 2000 which

saw Hill Samuel merged with Scottish Widows Investment Management.

Nairn and Campbell are reported to be setting up their own business.

Nairn has been credited with reversing the fortunes of the firm he

joined in late 2000, which had suffered a staff exodus, including key

personnel such as Albert Morillo.

Nairn oversaw the restructuring of Swip&#39s equity capability and

refocusing of its investment philosophy. IFAs credit Campbell, who

joined in May 2001, with turning round the performance of its UK

retail equity funds.

Andrew November, head of institutional funds and global strategy,

will take over as CIO for institutional business while Graham Wood,

head of global sectors and international research, will become CIO

for equities.

Chief executive Bill Main says: “Sandy made a strong early

contribution to the business and we are grateful to him for

overseeing our successful repositioning.”

Bates Investment Services senior investment adviser Kerry Nelson

says: “It is a massive loss. Nairn has pulled everything together

after the problems and the departure of them both is a huge blow.”

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