Restructuring of SWIP

Scottish Widows Investment Partnership (Swip) has now divided its property investment team into UK and international divisions.

The UK arm will be led by Peter Lillington and Gerry Ferguson. Lillington will be in charge of the UK property investment with responsibility for all investment transactions and development, while Ferguson is in charge of the UK property fund management with responsibility for all UK property funds. He is also in charge of the Scottish Widows Investment Partnership Trust, Airport Industrial Property unit trust and the Covent Garden Market Partnership.

Swip has more than £7.8 billion in assets. The restructuring of the department is necessary as its property heads, Tom Laidlaw, and his deputy, Mike Channing, will be leaving at the end of the year to set up their own business after 15 years at the firm. (UBR).