All change at First State

First State Investments' head of UK equities, David Shaw-Stewart, and senior UK manager, Marcus Brooks, have departed the group. This follows the arrival of Derek Lygo from Dresdner RCM as the new head of UK equities. Stuart Paul, chief investment officer at First State, said Shaw-Stewart and Brooks were both involved in the decision to take on Lygo and decided to step-aside to let him have a free hand. He said the company has been trying to improve its UK equity business and said Lygo's appointment will bring some creative thinking to the whole asset class and can improve the g...