The investment director of UK equities at Scottish Widows Investment Partnership, who revealed he was leaving the group last week, has been appointed by rival Fidelity International as the first hire under the head of its newly-opened Edinburgh office.

David Urch will join Fidelity in January as a portfolio manager reporting to Jonathon Cobb, recently appointed to lead institutional UK equity portfolio management activities and build a team of UK equity portfolio managers at the new office.