Directorate Change

RNS Number : 9900J

Man Group plc

24 July 2013

 



Man Group plc

24 July 2013

Man announces Board changes

Man Group plc ("Man") is pleased to announce that Andrew Horton will take up the position of non-executive director. Andrew has over 25 years of broad financial services experience with significant exposure to operating at Board level, having served on the Board of Beazley plc, first as Group Finance Director and currently as Chief Executive Officer, since 2003. Prior to that, he held various financial positions within ING, NatWest and Lloyds bank.

In addition, Patrick O'Sullivan, who has served as a non-executive director for six years, will step down from the Board.  Patrick has made a substantial contribution to the Board over that period, both as a previous Chairman of the Audit and Risk Committee and more recently as Senior Independent Director.  Patrick will be succeeded in this latter role by Phillip Colebatch who has been a non-executive director for six years and Chairman of the Remuneration Committee since 2008.  Phillip has substantial financial, operational and markets experience and was previously a member of the Executive Boards of Swiss Re and Credit Suisse. All these Board changes will take effect from 3 August, 2013. 

Jon Aisbitt, Chairman of Man, said:

"With his broad banking, financial markets and insurance background, Andrew is extremely well placed to understand the business context within which Man operates and to contribute to its strategy development and risk management.  He has experience of running international operations in Europe, Australia and Asia, where Man is already active, and of building a significant presence in the US, which is a key market Man has targeted for growth.

I would also like to take this opportunity to thank Patrick for his very valuable contribution to the Board over the past six years and Phillip for taking on this additional role."

There are no other details to be disclosed under Listing Rule 9.6.13.

Enquiries:

Laura Humble                                                    Fiona Smart
PR Manager                                                      Head of Investor Relations
Man Group plc                                                   Man Group plc
020 7144 3266                                                   020 7144 2030

IMPORTANT

This announcement is issued on behalf of both Man Group plc and Man Strategic Holdings Limited.

Man is a world-leading alternative investment management business. It has expertise in a wide range of liquid investment styles including managed futures, equity, credit and convertibles, emerging markets, global macro and multi-manager, combined with powerful product structuring, distribution and client service capabilities. At 31 March 2013, Man managed $ 54.8 billon.

The original business was founded in 1783. Today, Man Group plc is listed on the London Stock Exchange and is a member of the FTSE 250 Index with a market capitalisation of around £ 1.6 billion. Man is a signatory to the United Nations Principles for Responsible Investment (PRI). Man also supports many awards, charities and initiatives around the world, including sponsorship of the Man Booker literary prizes. Further information can be found at www.man.com

 

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