The fund management division of HBOS, which is to replace Clerical Medical Investment Group, is to s...
The fund management division of HBOS, which is to replace Clerical Medical Investment Group, is to set up a nationwide intermediary sales operation.
The newly formed asset management company is on a recruitment drive to build up and sell its range of funds. Positions being advertised include head of institutional investment, head of business development, head of retail sales and head of marketing.
Future-HBOS managing director, Gary Mairs, said the group was looking to launch a specialist fund and provide investors with a broader range of risk-graded products.
The senior management will be made up of Mairs, Michael Deakin, chief investment officer at Clerical Medical, Douglas Ferrans, chief executive who was recently recruited from Britannic Asset Management and a chief operating officer who the group is in the process of hiring.
The firm, which is to be rebranded early in 2002 is set to form four new teams to support its intermediary business.
It is now forming a 10-strong sales team, based across the UK, a product development grouping of four people, a marketing team of 10 people and a client support operation.
The existing staff of Clerical Medical Investments will form the core of the forthcoming HBOS investment operation, according to Mairs.
More than 100 people will be taken on according to Mairs, who argued that the current market conditions where people were being laid off was ideal to build up a team.
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