Scottish Widows Investment Partnership (SWIP) was an asset management company based in Edinburgh, Scotland. It was one of Europe's largest asset management companies, with £146 billion of funds under management as at 31 December 2013. These funds were invested across all major

asset classes In finance, an asset class is a group of financial instruments that have similar financial characteristics and behave similarly in the marketplace. We can often break these instruments into those having to do with real assets and those having ...

– including worldwide

equities In finance, stock (also capital stock) consists of all the shares by which ownership of a corporation or company is divided.Longman Business English Dictionary: "stock - ''especially AmE'' one of the shares into which ownership of a company ...

property Property is a system of rights that gives people legal control of valuable things, and also refers to the valuable things themselves. Depending on the nature of the property, an owner of property may have the right to consume, alter, share, r ...

, bonds, multi-asset, multi-manager and cash.

History

Scottish Widows Investment Partnership was created in 2000 following the merger of two well-established asset management companies, Scottish Widows Investment Management and Hill Samuel Asset Management. SWIP came into being under the leadership of Orie Dudley who resigned later that year to move to

Northern Trust Northern Trust Corporation is a financial services company headquartered in Chicago that caters to corporations, institutional investors, and ultra high net worth individuals. Northern Trust is one of the largest banking institutions in the Un ...

. He was replaced by Bill Main, formerly Deputy Chief Executive at Scottish Widows. After Bill Main retired in 2003, Chris Phillips became CEO at SWIP until he announced his intention to move to Morley Fund Management in 2007. Dean Buckley, joined SWIP as Managing Director in January 2008 following 12 years with HSBC Investments. On 1 April 2014, Aberdeen Asset Management PLC announced the completion of their acquisition of SWIP from

Lloyds Banking Group Lloyds Banking Group is a British financial institution formed through the acquisition of HBOS by Lloyds TSB in 2009. It is one of the UK's largest financial services organisations, with 30 million customers and 65,000 employees. Lloyds Ban ...

in an RNS to the London Stock Exchange. Mr Buckley left SWIP on completion of the acquisition. The company used the trademarks "SWIP" and "Scottish Widows" under temporary licence from

until late 2014, when it merged with its parent.

Operations

SWIP promoted a range of

mutual fund A mutual fund is a professionally managed investment fund that pools money from many investors to purchase securities. The term is typically used in the United States, Canada, and India, while similar structures across the globe include the SICAV ...

s through

financial adviser A financial adviser or financial advisor is a professional who provides financial services to clients based on their financial situation. In many countries, financial advisors must complete specific training and be registered with a regulatory ...

s and investment platforms. SWIP also managed a diverse range of specialist funds for a range of institutional clients, including large pensions, charities and local government in the UK, Europe and the US. In addition, Scottish Widows Investment Partnership managed

life assurance Life insurance (or life assurance, especially in the Commonwealth of Nations) is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death ...

, pension and

investment funds An investment fund is a way of investing money alongside other investors in order to benefit from the inherent advantages of working as part of a group such as reducing the risks of the investment by a significant percentage. These advantages inc ...

for

Scottish Widows Scottish Widows is a life insurance and pensions company located in Edinburgh, Scotland, and is a subsidiary of Lloyds Banking Group. Its product range includes life assurance and pensions. The company has been providing financial services to th ...

which was part of its largest single client, Lloyds Banking Group. SWIP employed around 500 staff including more than 150 investment professionals.

References

{{Reflist Financial services companies of Scotland Investment companies of the United Kingdom Companies based in Edinburgh Financial services companies established in 2000 2000 establishments in Scotland

History

Operations

See also

References