Scottish Widows Investment Partnership has hired Cazenove Capital Management's multi-manager team, which in turn has hired a high-profile manager from Gartmore, to build a new unit and launch new funds.

Swip has hired Mark Harries to be head of its new multi-manager unit from Cazenove, along with Simon Wood, Lyndon Gill, Natalie Burnard and Andrew Perham who will be investment directors. The team will report to Graham Wood, Swip's chief investment officer for equities.