Nikko Asset Management created a global equities team with the hire of six investment professionals from Scottish Widows Investment Partnership, said Yu-Ming Wang, deputy president, global head of investment and international chief investment officer at the firm.
William Low leads the Edinburgh-based team as head of global equities. He was previously director of global equities at Scottish Widows Investment Partnership, which was acquired by Aberdeen Asset Management in April.
At the time, a spokesman said Mr. Low’s departure was part of a wider realignment of Aberdeen’s investment division following the acquisition.
The other appointments are:
- Greig Bryson, investment director covering health care and materials. He was previously investment director at SWIP, managing European and U.K. allocations for institutional and retail clients.
- Stephen Corr, investment director covering industrials and technology. He was investment director responsible for the management of global and regional non-U.S. strategies.
- Iain Fulton, investment director covering consumer staples, consumer discretionary and technology. He was investment director at SWIP, responsible for global and Japan strategies.
- James Kinghorn, investment director covering global financials. He was investment director covering global, regional and specialty funds at SWIP.
- Johnny Russell, investment director covering energy, telecommunications and utilities. He covered global sustainable and Islamic allocations as investment director at SWIP.
SWIP-run global equity funds and allocations covered £600 million ($1 billion) in assets. The five team members left Aberdeen in June; Mr. Low departed in the spring. The global equity portfolios are now managed by Stephen Docherty, head of global equities at Aberdeen, and his 12-member team in Edinburgh, according to the Aberdeen spokesman.
“This is significant news,” said Mr. Wang at a briefing held Monday. “(The team appointment) extends our investment capability to include global equity. Asia investors want to diversify beyond domestic equity allocation.”
Executives at Nikko said the additional capability was part of a strategic build out, and follows the launch of a multiasset capability in March and the appointment of a specialist Asian equity team in October.