Tuesday, 27 January 2015
Last updated 28 min ago
Aug 24 2010 | 12:40pm ET
The Man Group has a new head of its battered fund of hedge funds unit.
Luke Ellis will succeed the retiring Herbert Item at the helm of the US$14.2 billion business, which lost US$360 million in the Bernard Madoff scandal. Ellis was a managing director at fund of funds shop Financial Risk Management until two years ago. He spent a decade at FRM after joining from JPMorgan Chase, where he was head of global equity derivatives and equity proprietary trading units until 1998.
“The future of the multi-manager industry will be all about addressing specific client needs with a range of services, from ready-made portfolios to direct access through managed accounts to risk analysis and management,” Ellis said in a statement.
Item has spent 13 years at Man.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…