Northern Trust Global Investments dropped Scottish Widows Investment Management from its £83 million ($132.8 million) European equity fund of funds and replaced it with BlackRock International. BlackRock will take over management of a £33.2 million European equity mandate. SG Asset Management will continue to run a £33.2 million slice of the fund, and Odey Asset Management remains responsible for a £16.6 million portfolio. The new appointment follows last months defection to BlackRock by Albert Morillo, former head of SWIMs U.K./European equities desk, and his team of European equity managers. "We follow individuals not houses and we would not have gone to BlackRock if Albert had not moved there, said Daniel Sharp, vice president responsible for U.K. investment marketing at Northern Trust.