Senior Management Team and Internal Promotions

RNS Number : 7627I

Man Group plc

02 September 2016

 

Man Group Announces Senior Management Team and Internal Promotions

2 September 2016 - Man Group today announces a new senior management structure for the firm, alongside a number of internal promotions. These appointments follow the naming of Luke Ellis as CEO and reflect the significant progress and developments across the business in recent years. The internal management changes will reallocate certain responsibilities, in line with the growth and diversification of the business, and are designed to ensure that the Group has the optimal leadership structure in place to serve its global client base.

The key management changes announced today are:

·      Jonathan Sorrell's role as President of Man Group has developed to include a number of areas across the business and the intention is that he will step down as the Chief Financial Officer (CFO), following an orderly transition to the new CFO. Under his new remit as President, Jonathan will focus alongside Luke on strategic and commercial areas that are fundamental to the firm's plan and development, with direct responsibility for sales, corporate strategy, M&A, private markets and Man FRM. Jonathan will remain on the Board of the firm. His promotion to co-President of the firm in June was reflective of the broader remit and leadership role he has undertaken throughout his 5 year tenure at Man Group.

·      The Board intends to appoint Mark Jones, currently Co-CEO of Man GLG, as Chief Financial Officer and as an Executive Director of Man Group plc. Subject to regulatory approval, he will assume the CFO role following a handover from Jonathan Sorrell. There are no details relating to this appointment to be disclosed under Listing Rule 9.6.13.

·      Sandy Rattray has been appointed as Chief Investment Officer of Man Group, assuming responsibility for Man AHL, Man Numeric, Man GLG and Man Solutions. This was previously part of Luke Ellis' role while he served as President of the firm. He will remain CEO of Man AHL and will continue to lead the business strategy. In his expanded role, Sandy will be able to leverage his deep expertise across the group's investment managers.

·      Robyn Grew has been appointed to the newly created position of Chief Administrative Officer of Man Group. She will have responsibility for the firm's infrastructure, operations, technology, compliance, legal, human resources and facilities functions, allowing Man Group to focus further on ensuring it has best in class operational functions and a working environment that attracts and retains the best talent in the industry. Robyn was previously Man Group's General Counsel and Global Head of Legal and Compliance.

Luke Ellis, CEO of Man Group, said:

"I am pleased to congratulate a number of my high-calibre colleagues at Man Group on their new roles, at what was a natural time to review our management structure. The firm has changed a great deal in the past few years and, with my own role also changing, it made sense to look at the way we are organised and where different responsibilities should lie, so that we have the optimal structure in place to serve our clients and assist me in leading the firm through the next phase of development.

From a strategic and operational viewpoint, very little will change and we will continue in a 'business as usual' manner as the changes are implemented as seamlessly as possible."

Man Group also announces changes today at its discretionary fund management business, Man GLG.  Pierre-Henri Flamand has been appointed as Chief Investment Officer, in which role he will work alongside Teun Johnston who remains Chief Executive Officer.

Additionally, Tim Wong, Executive Chairman of Man AHL and a member of the Man Group Executive Committee, will become Chairman of Man Group Asia. Tim will take over the role from Pierre Lagrange, who will concentrate his focus on Man GLG's ELS strategy, leveraging more than three decades of experience in portfolio management and investment research.

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Enquiries

Andrea Waters

Head of Investor Relations

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Rosanna Konarzewski

Global Head of Communications and Marketing

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[phone]

Michael Turner

Finsbury

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[phone]

About Man Group

Man Group is one of the world's largest independent alternative investment management groups. Man Group's managers (Man AHL, Man FRM, Man GLG and Man Numeric) have diverse long/short and long only strategies spanning equity, credit, managed futures, convertibles, emerging markets and multi-managers. At 30 June 2016, Man Group's funds under management were $76.4 billion.

The original business was founded in 1783. Today, Man Group plc is listed on the London Stock Exchange under the ticker EMG.L and is a constituent of the FTSE 250 Index.

Man Group 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.

Forward looking statements and other important information

This document contains forward-looking statements with respect to the financial condition, results and business of Man Group plc. By their nature, forward-looking statements involve risk and uncertainty and there may be subsequent variations to estimates. Man Group plc's actual future results may differ materially from the results expressed or implied in these forward-looking statements.

The content of the websites referred to in this announcement is not incorporated into and does not form part of this announcement. Nothing in this announcement should be construed as or is intended to be a solicitation for or an offer to provide investment advisory services.

 

 

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