Gavin Gemmell, chairman of Scottish Widows, has agreed to act as an adviser to Edinburgh-based Blacket Research, a firm which analyses the performance of consultants for pension fund clients.

Gemmell, who used to be chief executive of Baillie Gifford, the Scottish fund manager, has also agreed to invest in Blacket. He said: "They are bringing fresh thinking and new solutions to some difficult areas of pension fund management which will benefit pension schemes and their members."