Scott, who has been away due to illness, will be responsible for macroeconomic analysis and advice on market strategy across the UK equities desk.
In a reshuffle of the F&C UK equities desk Hilary Aldridge has become lead manager of the UK growth and income fund, having run the vehicle since Scott’s departure in November 2008.
Head of smaller companies Catherine Stanley is to take on the flagship stewardship growth and stewardship income funds.
Other changes include director of UK equities Phil Doel taking over from Julian Cane on the UK equity income fund, with Cane set to focus on investment trust mandates, and head of UK equities Peter Lees to act as lead manager of the UK equity fund. Head of equities Richard Wilson says: “Ted’s skills as a top-down analyst are widely recognised as one of the key ingredients behind his long record as a successful investor.”
Hargreaves Lansdown senior analyst Meera Patel says: “I am a bit disappointed he is not coming back to run money.
“It is unlikely we will look to put UK growth and income back on Wealth 150 until we have had proper discussions.”