Sunday, 7 February 2016
Last updated 1 day ago
Sep 7 2012 | 10:54am ET
The Man Group has hired a former top Pacific Investment Management Co. executive to launch a line of bond funds at its GLG Partners unit, as it bids farewell to another bond fund manager.
Sudi Mariappa spent a decade at PIMCO, leaving in 2010—the same year Man bought GLG. He was global head of portfolio management at the world's largest bond fund.
"We look forward to building our business in an asset class which has many attractions for investors in today's volatile market environment," Emmanuel Roman, a GLG co-founder and Man's chief operating officer, said.
Passing Mariappa on the way out of GLG is Driss Ben-Brahim, the former Goldman Sachs partner who joined GLG four years ago, in part to fill the void left by Greg Coffey. Ben-Brahim, who co-manages GLG's Atlas Macro sovereign-bond fund, will take early retirement and will leave the industry, Man said.
Ben-Brahim is one of the highest-paid hedge fund managers in London.