Scottish Widows Investment Partnership UK opportun-ities fund manager David Urch is leaving the firm after four years.
Urch, who also runs the £734m Scottish Widows UK select growth fund, has steered both funds to the top quartile in the last three years.
Peter Cockburn is to take over the two funds from Urch, who will continue working with the firm in the short term to ensure a smooth transition period. The group has also said that it will recruit a UK fund manager externally.
Cockburn also runs the £2.34bn Scottish Widows UK growth and £54m Swip UK advantage portfolios.
Urch joined Swip in 2003, having been responsible for the UK equity team at Martin Currie. He started as a specialist at Merrill Lynch, which was then Mercury Asset Management.
Chelsea Financial Services managing director Darius McDermott says: “Urch is a big loss for Swip considering the performance he had returned on those two vehicles but the group is keen to promote their team process and this will be a test of their mettle.”