Tuesday, 26 July 2016
Last updated 45 min ago
Jul 26 2007 | 11:39am ET
Man Group fund of funds affiliate RMF Investment Management said today that CEO Fred Siegrist has decided to retire, and will step down Sept. 30. Siegrist will be succeeded by Herbert Item, who will also continue as chief investment officer, a position he has held since 2005.
“Man Investments’ Management Committee thanks Fred for his outstanding contribution to the success of the company,” the firm said in a statement. “Under Fred Siegrist’s leadership assets under management at RMF grew from US$14 billion to about US$25 billion. Fred has established RMF’s reputation as a leading innovator in the industry and has laid the foundation for future growth through his strong succession planning.”
In addition, Serge Cadelli has been promoted to the dual role of chief operating officer and chief risk officer. Serge has been COO for almost two years and, beginning Oct. 1, assumes the responsibilities of Pierre-Yves Moix, who will move to Man Investments as chief risk officer.