TIDMEMG
RNS Number : 0843Z
Man Group plc
11 May 2023
FOR IMMEDIATE RELEASE
Man Group plc
("Man Group" or "the Company")
Man Group appoints Robyn Grew as next CEO as Luke Ellis
announces retirement
London, 11 May 2023 - Man Group, the global,
technology-empowered active investment management firm, today
announces that Luke Ellis has informed the Board of his decision to
retire and that Robyn Grew will be appointed as the next CEO of Man
Group.
Robyn is currently President of Man Group and a member of the
Senior Executive Committee, based in the US. She has significant
operational and financial services experience as well as a strong
track record of demonstrating strategic vision and leadership.
During her 14 years at Man Group, Robyn has managed the solutions
business, overseen trading and execution as well as acted as Group
COO, Head of ESG and General Counsel. Her wide-ranging
responsibilities, spanning from investment divisions, risk and
technology to legal, infrastructure and operations, have provided
her with broad experience and a deep understanding of the business.
She has been integral to the firm's global strategic expansion and
oversaw the reorganisation of Man Group's corporate structure in
2019 to better align it with the global footprint of the business.
She has also spearheaded the firm's diversity programme, Drive.
Before joining the firm in 2009, Robyn held senior positions at
investment banks Barclays Capital and Lehman Brothers as well as at
LIFFE, the largest futures and options exchange in London - since
renamed the ICE Futures Europe. These roles saw her based for
periods of time in New York, London and Tokyo giving her broad,
global experience.
Robyn will take over from Luke as CEO as of 1 September 2023, at
which time she will also join the Man Group Board as an executive
director. While she will relocate to the UK following her
appointment, she will continue to spend a substantial proportion of
her time in the US, given the firm's presence there. Luke will
continue as CEO and remain an executive director of the Company
until 1 September 2023 to ensure an orderly transition and
oversight of the Company's 2023 interim results.
In line with best practice and its roles and responsibilities,
the Nomination Committee of the Board has continually reviewed and
discussed Board and executive succession plans. This has included
identifying potential internal successors for the CEO role and,
with the assistance of an external executive search firm,
undertaking a thorough preparatory external benchmarking exercise.
Following Luke's decision to retire, the Board was pleased to be
able to implement its succession plans and immediately approve the
appointment of Robyn as the Company's next CEO.
John Cryan, Chair, Man Group, commented:
"Luke has had a long and distinguished career in the City,
leading several organisations before he landed at Man Group. He has
been a fantastic, visionary leader, inspiring the firm to
reposition itself for the future and working closely with his
leadership team to oversee a period of tremendous growth. He has
also played a significant part in developing a great culture that
makes Man Group such a wonderful place to work. The fact that we
have been able to make an appointment internally for his successor
is a reflection of the highly talented team that he has developed
around him. We thank him for his leadership of the firm over the
past seven years and wish him the very best for his retirement.
"I know I speak for the entire Board when I say what a pleasure
it is to be able to announce Robyn Grew as the next CEO of Man
Group. Robyn is a dynamic, strategic leader with deep operational
and commercial expertise, who knows the firm inside-out and is the
perfect fit to take the firm on the next phase of its journey."
Anne Wade, Chair Designate, Man Group, added:
"I am excited by Robyn's vision and ambition for Man Group as a
global, active investment firm, as well as her undeniable passion
for creating a collaborative and diverse culture at the firm.
Having worked closely with Robyn for over three years, I have seen
what a strategic thinker she is, continually improving some of the
firm's most complex areas. I look forward to working together even
more closely once we have both assumed our new roles later in the
year."
Robyn Grew said:
"It is an absolute honour to be taking on the role of CEO at Man
Group. During more than a decade working at the firm, it has
developed into a world leading, technologically brilliant, active
investment firm with a fantastically collegiate culture. I look
forward to building on that to ensure the firm remains positioned
at the forefront of active investing, attracting top talent and
delivering for our clients and shareholders alike. Luke has been an
incredible ally and mentor to me and I am excited to be able to
follow in his footsteps into this new role."
Luke Ellis commented:
"It has been a privilege to be CEO of Man Group and it is easy
to want to stay on forever when you are leading such a great team
of people. However, I feel that now is the right time to pass the
reins to the next custodian of this firm and having worked with
Robyn for well over a decade I could not be more thrilled at her
appointment. Robyn is truly exceptional and I know that the firm
will continue to go from strength to strength under her leadership
and that of the highly talented team around her."
Regulatory disclosures:
This announcement contains inside information for the purposes
of Article 7 of the UK version of the Market Abuse Regulation (EU)
596/2014 ("UK MAR"), and is disclosed in accordance with the
Company's obligations under Article 17 of UK MAR. Upon the
publication of this announcement via a Regulatory Information
Service, this inside information is now considered to be in the
public domain. The person responsible for making this disclosure on
behalf of the Company is Elizabeth Woods, Company Secretary.
This announcement is made pursuant to Listing Rule 9.6.11R. In
accordance with Listing Rule 9.6.13R (1), the Company notes that
Robyn Grew is a director of ReNew Energy Global plc, a renewable
energy solutions provider, which is listed on Nasdaq. There are no
matters to be disclosed in connection with Listing Rule 9.6.13R (2)
- (6).
Details of Robyn Grew's remuneration arrangements following her
appointment to the Board will be disclosed in full in the Company's
2023 Directors' Remuneration Report. Such arrangements will be
consistent with the Company's approved Directors' Remuneration
Policy.
Information equivalent to that required under section 430(2B) of
the Companies Act 2006 in relation to Luke Ellis's remuneration
will be made available on the Company's website following his
departure from the Board.
About Man Group
Man Group is a global, technology-empowered active investment
management firm focused on delivering alpha and portfolio solutions
for clients. Headquartered in London, we manage $144.7 billion* and
operate across multiple offices globally.
We invest across a diverse range of strategies and asset
classes, with a mix of long only and alternative strategies run on
a discretionary and quantitative basis, across liquid and private
markets. Our investment teams work within Man Group's single
operating platform, enabling them to invest with a high degree of
empowerment while benefiting from the collaboration, strength and
resources of the entire firm. Our platform is underpinned by
advanced technology, supporting our investment teams at every stage
of their process, including alpha generation, portfolio management,
trade execution and risk management.
Our clients and the millions of retirees and savers they
represent are at the heart of everything we do. We form deep and
long-lasting relationships and create tailored solutions to help
meet their unique needs.
Man Group plc is listed on the London Stock Exchange under the
ticker EMG.LN and is a constituent of the FTSE 250 Index. Further
information can be found at www.man.com
*As at 31 March 2023. All investment management and advisory
services are offered through the investment "engines" of Man AHL,
Man Numeric, Man GLG, Man Solutions / FRM and Man GPM.
Enquiries
Karan Shirgaokar
Head of Investor Relations
+44 20 7144 1434
investor.relations@man.com
Georgiana Brunner
Head of Communications
+44 20 7144 1000
media@man.com
Elizabeth Woods
Company Secretary
+44 20 7144 1733
company.secretarial@man.com
Kit Dunford
FTI Consulting
+44 77 717 417 038
man@fticonsulting.com
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