Scottish Widows names new investments chief

SCOTTISH Widows has unveiled Dean Buckley as the new chief executive of its fund management arm, the Edinburgh-based Scottish Widows Investment Partnership (SWIP).

Mr Buckley joins the company from HSBC Investments where he has been chief executive of the UK and Middle East arm since 2001.

Scottish Widows said Mr Buckley, 47, was expected to start the job in early January, adding that he brought with him "an excellent pedigree".

SWIP employs 400 people and has £98 billion of funds under management, making it Scotland's second-largest investment house after Standard Life Investments. It's pre-tax profits grew from £2 million in 2003 to £29m in 2006.

Mr Buckley is married with two children of school age, although it is not expected that he will move his family to the Capital. It is understood he will divide his time between SWIP's operations in Edinburgh and London.

Scottish Widows chief executive Archie Kane said: "Dean brings many years experience in fund management to the role.

"His experience spans UK and overseas markets. He is therefore well-placed to take SWIP's business forward, building on its success across institutional, retail and international markets."

The post has been vacant for nine months, following the resignation of Chris Phillips, who was primed to take on the same role at Morley. Mr Phillips died in April, before he could take up his new post, while on a walking holiday in the Pyrenees.