Scottish Widows Investment Partnership has ended a near 12-month search for a head of its £57bn equities division, which has suffered a raft of senior departures to rivals over the last year.

Andrew November is Swip's new director of equities, with overall responsibility for the asset manager's investment philosophy and process, according to a statement issued yesterday by the company. He will oversee the the company's equities teams, who are responsible for £57bn in assets under management, along with the units responsible for dealing and derivatives.