Former Citywire AA-rated Nicholson announced plans to leave SLI in April after 13 years with the Edinburgh-based firm.
It is understood Paisley, who joins from Scottish Widows Investment Partnership, will be responsible for management of this fund and its UK-domiciled equivalent.
The new recruit brings with him five years’ experience as a senior investment manager at Kempen Capital Management, where he had overseen the Kempen Sense Fund, as well as a stint as an investment director in the small-cap team at SWIP.
Commenting on the appointment, Nimmo said: ‘Andrew’s track record to date is impressive in terms of managing European and UK smaller companies equities.
‘Annualised returns at each previous employer were consistently ahead of benchmark. With 16 years of investment experience behind him, of which fourteen involve smaller companies equities, his input within our process, fund management and stock selection is likely to be prodigious.’
The SLI Glo SICAV European Smaller Companies EUR has returned 54% in euro terms over the three years to the end of July 2014. This compares with a rise of 53.2% by the MSCI Europe Small Cap TR EUR over the same period.