Investors Group hires ex-BlackRock equity CIO

Canadian fund house Investors Group has brought in BlackRock alumnus Nick Scott as head of Asian equities to run its Hong Kong investment team.

Portfolio manager Erwin Hidalgo is understood to have left Investors Group recently, but AsianInvestor could not ascertain where he has gone.

Hidalgo was a responsible officer at IG Investment Management (Hong Kong) from November 2006 to July 31, 2014, when his licence ceased. Scott became an RO with the firm on September 15.

Scott had served as BlackRock’s chief investment officer for Asia fundamental equities in Hong Kong until mid-2011, when he left. He was replaced by Andrew Swan, who moved from JP Morgan Asset Management, as reported.

Since his licence expired on August 4, 2011, Scott has no listing with Hong Kong's Securities and Futures Commission until the one related to his new role this year.

Investors Group declined to comment on what Scott has been doing since he left BlackRock, whether he is a direct replacement for Hidalgo or whether it is planning further hires in Asia. Scott could not be reached for comment by press time.

The fund house, which has $127 billion in assets under management, opened its Hong Kong office in 2000 but only sells products in Canada.

Scott was CIO for UK insurer Prudential’s Asian business before joining BlackRock in early 2007 to build its team of equity managers from scratch.