Ignis star Ormiston's move to SLI in doubt as group hires European manager

Standard Life Investments has recruited a manager from SWIP to run its European Smaller Companies fund, raising questions over whether Ignis' Ian Ormiston will make the move to SLI.

Investment Week understands SWIP manager Andrew Paisley will be joining SLI in the first week of August to run the European Smaller Companies SICAV, previously managed by Ken Nicholson. The group confirmed Nicholson left on 25 July and since then the fund has been managed by Harry Nimmo, head of smaller companies, with the European and UK equities teams providing additional support. Many had expected Ignis' Ormiston, (pictured), manager of the top-performing Ignis European Smaller Companies fund, to manage the portfolio following SLI's £390m takeover of the business. Ormiston has b...