Man Group Shakes Up Senior Management Team
September 02 2016 - 4:30AM
Dow Jones News
LONDON—Hedge-fund firm Man Group PLC on Friday announced a
management reshuffle, naming new finance and investment heads, just
weeks after its chief executive left to run Pacific Investment
Management Co.
The company, the world's largest listed hedge-fund firm by
assets, said Jonathan Sorrell is stepping down as chief financial
officer, while his role as president of Man Group is expanding to
include several new strategic and commercial areas including sales,
corporate strategy, and mergers and acquisitions.
Mark Jones, a co-CEO of the company's GLG unit, will replace Mr.
Sorrell as CFO subject to regulatory approval.
Man Group also appointed Sandy Rattray as its chief investment
officer. He will remain as head of Man AHL, a computer-driven
fund.
The move comes a day after Luke Ellis took charge of the
London-based firm following the departure of Manny Roman to become
CEO of Pimco. Mr. Ellis previously served as Man Group's president
and held responsibility for investment.
Mr. Roman, whose departure was announced in July, was credited
with leading a turnaround in Man Group's fortunes in recent years,
executing a string of acquisitions that diversified its
business.
However, the company, which manages $76.4 billion in assets,
suffered a slump in performance fees during the first half
following a torrid start to the year for many of its funds.
Man Group on Friday also said it had appointed Robyn Grew as
chief administrative officer, with responsibilities including
infrastructure, operations and technology, and Pierre-Henri Flamand
as chief investment officer of Man GLG.
Write to Tapan Panchal at Tapan.Panchal@wsj.com
(END) Dow Jones Newswires
September 02, 2016 04:15 ET (08:15 GMT)
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