Santander Asset Management's UK arm, which runs £6.6bn (€9.7bn) in retail assets under the Abbey brand, has hired two fund managers and two analysts, as it builds its in-house team to take back more money from third parties and develop new products.

Richard Moore, formerly head of the UK large-cap desk at Old Mutual Asset Managers, and Hak Salih, previously manager of M&G's £300m equity income fund, are the two fund managers.