SWIP cuts 23 investment roles in major equities overhaul

Scottish Widows Investment Partnership(SWIP), the asset management arm of Lloyds, is shutting down a string of its regional investment desks with the loss of 23 investment roles.

The move comes as part of a major reorganisation of its £54bn equities business, with some strategies shifting from an active to a passive investment approach driven by quant models, SWIP announced today.  Fund managers running active investment strategies in the UK, US and emerging markets are set to be replaced by a single global team built around SWIP's quantitative equities process. SWIP said the move comes in response to an increasingly clear divide between equity investors seeking high-alpha solutions and those preferring a lower-risk strategy through a quantitative-based approa...