Urch will work in the group’s new Edinburgh office from the start of 2008 and will work with Jonathan Cobb in building a team of UK equity portfolio managers, targeting the institutional market.
While at SWIP, Urch managed the group’s UK opportunities fund as well as the £734m Scottish Widows UK select growth fund, both of which were top quartile in the last three years of his tenure.
Urch has been assisting the group in completing a smooth transition to new manager Peter Cockburn after giving the group his notice.
Fidelity is expected to open its new office in October this year, while it is understood that the group has been talking to a plethora of managers in the city about joining the firm.
Fidelity chief investment officer for UK and European equities Nicky Richards says: “David is a very capable portfolio manager who is highly regarded in the industry. He has a strong UK equity track record and I am delighted that he will be part of the team we are developing in Edinburgh.
“We intend to build a strong capability in UK equity management there and our ability to recruit both Jonathan Cobb and David Urch shows our determination to create a high calibre team.”