Thursday, 31 July 2014
Last updated 18 hours ago
Jul 15 2011 | 12:01pm ET
The Man Group yesterday officially opened its new riverside headquarters in London, with help from Britain's Chancellor of the Exchequer.
The new 10-story building, which cost £250 million, features two new trading floors and will house nearly 1,000 employees. It is located on Swan Lane alongside the River Thames, just a half-mile up the river from its old headquarters on Sugar Quay and featuring views of London Bridge and the Tower of London.
Man has a 20-year lease on the building, Riverbank House.
"This new world-class facility demonstrates Man's continued commitment to London after being located in the City for more than two centuries," CEO Peter Clarke said, referring to Man's origins as a barrel-maker in 1783. Now, it is an alternative investments giant with more than US$70 billion in assets.
For his part, Chancellor George Osborne thanked Man for its "decision to commit to the future" of the U.K. and London, but warned that "we've got to get the regulation right and we've got to keep our taxes competitive" to keep firms like Man in London.
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…