TIDMEMG
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.
-Ends-
Enquiries
Andrea Waters
Head of Investor Relations
andrea.waters@man.com
+44 20 7144 3508
Rosanna Konarzewski
Global Head of Communications and Marketing
rosanna.konarzewski@man.com
+44 207 144 1000
Michael Turner
Finsbury
ManGroupUK@Finsbury.com
+44 20 7251 3801
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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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