Swiss Life Asset Management has lost David Holloway, head of institutional marketing, to HBOS, a change that coincides with the departure of Manfred Zobl, Swiss Life's group chief executive.

Holloway is joining the growing team of HBOS, the business formed from the merger of Halifax and Bank of Scotland, which has recently completed its management team and hired a raft of marketing and sales people for both its institutional and retail teams. Holloway's exact role could not be determined.