Insight investment announces changes to board

Insight Investment Management ("Insight"), the asset manager of HBOS plc, today announces changes of responsibility at Board level.

Douglas Ferrans, Chief Executive of Insight, will move into the role of Chairman.

Abdallah Nauphal will be promoted from Deputy Chief Executive to Chief Executive whilst retaining his position as Chief Investment Officer.

Both appointments will take effect from 1 July 2007.

Commenting on the change, Ferrans said: "I have enjoyed working with some of the most talented people in financial services creating a new and dynamic business".

"Since Insight's launch in 2002 we have doubled our assets under management making us one of the largest managers in the UK.

Furthermore, 2006 saw Insight achieve its highest growth in business wins by attaining over ?23 billion in new fund flows".

"Our business is in good shape and I am delighted to be passing on to Abdallah to lead the next phase of Insight's development".

"I will of course continue to be closely involved as we develop the business." Nauphal said: "Insight is a dynamic, innovative firm increasingly recognised as a provider of intelligent investment solutions for institutional and retail clients".

"We have invested heavily to build one of the most robust investment platforms in UK asset management".

"This enables us to manage the increasingly complex solutions our clients demand both efficiently and effectively".

"It is now my task, with my management team, to fully exploit this opportunity to develop the business to its full potential".

"I am personally excited at the prospect of leading the company on the next leg of this journey.".

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