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Scottish Widows names new head of real estate

Lynda Shillaw, currently a managing director of corporate real estate at Lloyds Banking Group, will join the £138 billion UK asset manager on 1 January.

Scottish Widows Investment Partnership (SWIP), an Edinburgh-based asset manager with £138 billion in funds under management, has hired Lynda Shillaw from within its ultimate parent company, Lloyds Banking Group. SWIP manages life assurance, pension and investment funds on behalf of Scottish Widows, a subsidiary of Lloyds.

Shillaw will join SWIP on 1 January and oversee a team of 50 professionals and more than £8 billion in real estate assets under management. She will report directly to Dean Buckley, SWIP’s managing director.

Shillaw succeeds Malcolm Naish, who retired from the firm in June. Peter Lillington and Robert Matthews, who jointly have led the real estate team during the interim period, will return to their existing positions as head of UK real estate investment and head of international real estate and strategy, respectively.

Shillaw has served as managing director of corporate real estate at Lloyds Banking Group since October 2010. In her current role, she oversees UK property development and investment sectors as part of Lloyd’s corporate and institutional banking group.

Previously, Shillaw was managing director of estates at Lloyd’s co-operative group and was responsible for that group’s property, land and farming business, as well as other functions such as procurement and operational risk. Prior to working at Lloyds, she was director of property at British Telecom.

In addition to managing funds for Scottish Widows, SWIP also manages a number of specialist funds for clients such as large pension schemes, charities and local government in Europe, the United States and Japan. It invests across all major asset classes, including property, equities, bonds and cash.