Scottish Widows Plots U.S. Invasion
August 24, 2006
Scottish Widows Investment Partnership is on track to become a top emerging markets contender in the U.S., Chris Walker, managing director of the firm's international division, told IMW.
"We're very much reentering the States," he said, adding that the London-based firm was very strong in European regional equity in the 1990s. "What happened is the market moved away from regional allocations and EAFE investments increasingly took over. We've been waiting to have a major push in the States until the last year, when we've been coming over and talking about emerging markets."
Walker said that the initiative will not be limited to emerging markets equity, however.
"It's my ambition that we should have a broader product range and we're looking at other areas of capabilities where we're strong, that we might want to target in the States," he said. "Certainly, international small-cap is one of them. Real estate and private equity will probably be two others. We're looking really in our plans to build a broad range of product offerings and certainly we've developed a five-year plan for the States."
This increased focus on building a U.S. presence has already lead Scottish Widows to close down its Princeton, Conn. Office--which was a one-man operation--and set up shop in New York.
"It was very clear to me that we needed to beef up the operations in the States," Walker said.
Most recently, the firm hired Deborah LaBerge as managing director and head of eastern U.S. sales. She joins the firm with more than 20 years of industry experience. Walker said LaBerge will play a crucial role in boosting consultant relations at Scottish Widows.
"She will also be working with her direct contacts on a corporate levels and plan sponsors," he said.
Please read the full version of this article in the September 11, 2006 issue of Investment Management Weekly.
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