Top Man Salesmen Made Redundant By GLG Merger

Oct 21 2010 | 1:20pm ET

A pair of the Man Group's most senior salesmen are among the first casualties of the firm's acquisition of GLG Partners.

Martin Keller, who headed institutional sales, and John Bennett, head of U.K. distribution, have left the firm. They are among a "handful" of redundancies in the newly-combined firm's sales team, Financial News reports.

Both men have been replaced by GLG sales executives. Raffaele Costa, co-head of marketing at GLG, has assumed Keller's role and been named co-head of sales for non-German-speaking Europe and North America. Richard Phillips, co-head of GLG's U.K. retail business, replaces Bennett as head of U.K. distribution.

Man closed its US$1.6 billion deal for GLG one week ago. The departures and layoffs from the sales unit coincide with its move from Man's office in central London's financial district to GLG's digs in hedge-fund friendly Mayfair this weekend.

It is unclear what Keller or Bennett's plans are. Keller spent more than two years at Man after joining from Deutsche Bank, where he was global head of hedge fund investments.


In Depth

David Yarrow On Growing His Hedge Fund And Shooting The Animals And People Of Africa - As A Photographer

Jul 23 2014 | 6:44am ET

While he’s always been a photographer, recent expeditions to Iceland, Ethiopia...

Lifestyle

Einhorns Busts At WSOP, Finishes In 173rd

Jul 15 2014 | 10:48am ET

Greenlight Capital founder David Einhorn’s World Series of Poker won’t end at...

Guest Contributor

The Truth About Track Record Portability

Jul 24 2014 | 5:55am ET

The number of private funds converting to mutual funds has increased significantly...

 

Sponsored Content

    Northern Trust Helps Hedge Funds Navigate Derivatives Regulations

    Jul 8 2014 | 10:48am ET

    The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…

Publisher's Note