13 October 2011
Scottish Widows Investment Partnership (SWIP) has boosted its highly-regarded, 43-strong Real Estate team with the appointment of five new Investment Managers. This move follows the recent increase in SWIP’s real estate assets under management which grew to £8.5bn earlier this year.1
SWIP’s real estate business is a key growth area and has ambitious plans to develop its capabilities. The team’s key priorities remain focused on driving excellent performance across its real estate portfolios and to continue growing assets under management.
Working closely with the existing team, the five new Edinburgh-based appointments are:
- Oliver Lord, Investment Manager Oliver brings 10 years’ experience to the role. He joins from F&C REIT Asset Management where he was Assistant Fund Manager. Oliver will join SWIP on Monday 24 October and will be involved in the management of the Clerical Medical With Profits fund. He will report to Darryl Tidd, Investment Director in the Institutional Real Estate team.
- Elaine Hughes, Investment Manager Elaine joins SWIP from CB Richard Ellis where she was Director of the Professional Services team in Edinburgh with responsibility for valuation and lease consultancy. Elaine joined SWIP on Tuesday 4 October and is involved in the management of the SWIP Property Trust. She reports to Gerry Ferguson, Head of SWIP’s Wholesale Real Estate team.
- Nicola Campbell, Investment Manager Nicola has 16 years’ experience in the real estate industry and joins SWIP from Hunter Property Fund Management, where she was UK Investment Director and fund manager for the Retail Plus Property Trust and the Performance Property Trust. Nicola joined SWIP in August and is involved in the management of the Clerical Medical Managed fund. She reports to Nick Ireland, Investment Director in the Institutional Real Estate team.
- Tom Elviss, Investment Manager Tom brings six years’ real estate experience to the role and joins SWIP from DTZ. During his time at DTZ, Tom was a Senior Surveyor in the National Investment team specialising in the disposal and acquisition of properties across all sectors of the real estate market. Prior to this, Tom worked in the Investment Agency team at Jones Lang LaSalle for over four years. Tom joined SWIP in July 2011 and is involved in the management of the Halifax Unit Linked Life fund. He reports to Cameron Murray, Investment Director in the Wholesale Real Estate team.
- Veronica Gallo-Alvarez, Investment Manager Veronica joined SWIP in June from Invista Real Estate Investment Management. At Invista, her main responsibility was the management of the Clerical Medical Non Sterling With Profits property fund, undertaking asset management initiatives, reporting performance, agreeing strategy and managing the relationship with the client. Veronica continues to manage this fund2. At Invista she was also responsible for overviewing the asset management of Invista's European portfolios outside France across their different pan-European mandates. Prior to her six years at Invista, Veronica worked as a Vice-President at Harbert Management Corporation, also involved in acquisitions, asset management across Continental Europe. Veronica reports to Robert Matthews.
Malcolm Naish, SWIP’s Director of Real Estate, said:
“The SWIP Real Estate team is one of the leaders in the European commercial property market. As we continue to grow, it is important that we resource our business appropriately so as not to impact our ability to identify and maximise opportunities for investors. Veronica, Tom, Nicola, Elaine and Oliver are great additions to our existing team, and bring with them to SWIP a wealth of experience and expertise in real estate asset management.”
- Ends -
Notes to Editors
1 SWIP saw its real estate assets swell to £8.5bn following the announcement that it had been appointed to manage £2.4bn in new assets on behalf of the Insurance Division of Lloyds Banking Group. These assets were transferred from Invista to SWIP in May this year.
2 In October 2010 it was announced that SWIP had been awarded mandates to manage £2.4 billion of real estate assets on behalf of the Insurance Division of Lloyds Banking Group. The transfer of these funds and assets from Invista completed in May 2011.
Photos of Veronica, Tom, Nicola and Elaine are available.
Scottish Widows Investment Partnership
- SWIP’s ultimate parent is Lloyds Banking Group, one of the largest financial services groups in the UK.
- SWIP has a geographically diverse client base with alliances and clients in the UK, across Europe, USA and Japan.
- SWIP is one of the UK and Europe’s largest fund managers with £147bn funds under management (Source: Internal, as at 30 June 2011).
- SWIP has a broad client base, managing assets for Pension Funds, Charities, Local Authorities, Life Funds, Unit Trusts, OEICs, Off-Shore Funds and Specialist Funds across all major asset classes.
- SWIP is authorised and regulated by the Financial Services Authority and is entered on their register under number 193707 (www.fsa.gov.uk).
- Investment markets and conditions can change rapidly and as such the views expressed should not be taken as statements of fact nor should reliance be placed on these views when making investment decisions. Past performance is not a guide to the future.
- Recent rating for SWIP’s flagship cash funds:
o SWIP Sterling Short Term Cash Fund - Aaa/Mr1 (Moody's), AAA/V1 (Fitch), Aaaf/S1 (Standard & Poor's)
o SWIP Global Liquidity Fund (Sterling and Euro subfunds) - Aaa/MR1+(Moody's), AAAAmmf (Fitch), AAAm (Standard & Poor's) Sterling and Euro subfunds