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Swip’s Euro team defects to BlackRock

BlackRock Mlim is to build on its European expertise in 2008 after recruiting three senior members of Scottish Widows Investment Partnership, including head of European equities Nigel Bolton.

Bolton is to join the firm in January, having run Swip’s £32m pan-European equity fund since 2004.

Alister Hibbert and Vincent Devlin are also moving to BlackRock, having run the £276m European select growth and £506m European funds respectively. Five analysts from the Swip team will also move across.

Swip has moved quickly to replace the departing team members, with Steven Maxwell set to fill Bolton’s shoes as head of European equities.

Rory Hammerson and Kathleen Dewandeleer will take on the pan-European retail funds, with Catie Wearmouth running the continental European funds.

BlackRock has been looking to fill the positions on the European team after the departures of Niall Gallacher and Gavin Corr in the past 12 months.

The addition of the Swip team is expected to bring a number of fund launches, with a European absolute alpha fund already being touted.

Chelsea Financial Services managing director Darius McDermott says: “This is a massive coup as the Swip team is on fire, as indicated by its numbers in the sector. It carries more gravitas as they have all moved together, which is no surprise given their team ethic and structure.”

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