Stuart Alexander has joined HBOS, the business formed from the merger of Halifax and Bank of Scotland, as head of retail sales for its asset management business.

HBOS has signalled its intention to build a large retail fund management business alongside Clerical Medical, its successful institutional arm. Alexander is supposed to create a 12-strong sales team to build relationships with independent financial advisers, discretionary fund managers, banks and insurance companies. Previously, he was head of sales at Invesco Perpetual. He has also worked at Singer & Friedlander, Deutsche and Gartmore.