A spokesperson for the firm said it was still working through the process of redundancies as different people served their notice periods, but that it was very close to being completed.
The promotion of Low from his position as head of Swip’s global equities team is designed to take the equities business forward and allow the team to bed in after the repositioning that has taken place since April this year.
Low joined Swip in April 2011 after a 15-year tenure at BlackRock and has made a significant impact on the equities business, the spokesperson added.
He takes over from Andrew November, who has been Swip’s director of equities since August 2010 and who now moves into a newly-created role of investment propositions director.
November’s chief responsibility will be developing the Swip investment proposition for Lloyds Banking Group’s (Swip’s parent group) customers.
Both Low and November will report directly to managing director of the firm Dean Buckley, who said: “2012 marks a new direction and focus for SWIP’s Equities business and I’m delighted that William is to lead the team into the future.
“His appointment underlines our commitment to active fund management and I have every confidence that, under his leadership, the Equities business will grow and, importantly, deliver outstanding performance for our clients.”
