SPAIN - Henderson Global Investors says it has opened a Madrid office headed by former Merrill Lynch executive Alastair Seymour.

Seymour will be director of sales for Spain and Portugal and be based at the office which was opened this month.

It said: "Alastair joins Henderson from Merrill Lynch and has almost twenty years experience in financial markets and for the past few years has focused on selling mutual funds to Spanish speaking markets.

"He will head up the office and take responsibility for implementing sales strategy for the development and co-ordination of all Henderson activities in Spanish markets involving the Henderson Horizon Fund Range."

Seymour will report to Giorgio Giovannini, who runs the firm's southern European operations.

"Opening the Spanish office is another milestone in the development of our European presence and we're delighted to have Alastair taking charge of the Spanish and Portuguese markets," said Kate O'Neill, director of pan-European distribution and hedge funds.

"The success of the Spanish economy over the last decade has opened up many opportunities for Henderson and Alastair will play a key role in helping us to fully expand and develop our offering in the Iberian peninsula."