The death has been reported of Chris Phillips, the chief executive of the UK bank Lloyds TSB’s Scottish Widows Investment Partnership; he succumbed to hypothermia during a walking tour in Spain. He was 50.

Mr Phillips had been due to take over as chief executive officer at Aviva's Morley Fund Management unit in July, having joined Scottish Widows at the end of 2003.

In January 2007, he was hired by UK-based Morley to run its £162 billion ($319 billion) portfolio, as reported in WealthBriefing.