Roman To Install GLG Vets At The Top At Man

Feb 19 2013 | 9:32am ET

Former GLG Partners executive Emmanuel Roman plans to waste no time in reshaping the Man Group when he takes the reins as CEO at the end of the month.

Roman plans to nearly double the size of Man's management committee and to hold weekly meetings of it, as opposed to its monthly get-togethers under current CEO Peter Clarke. Roman will also place a number of confidants and GLG veterans in top roles at Man, whose share price has slumped badly as it endured outflows and poor performance.

Former GLG adviser Luke Ellis, currently head of Man's FRM fund of funds business, will become president of the company, overseeing FRM, GLG and Man's flagship AHL strategy, which has struggled in recent years. Sanday Rattray, who worked with Roman at both Goldman Sachs and GLG, will become CEO of AHL, succeeding Tim Wong, who will be named chairman. Two other GLG veterans, Mark Jones and Simon White, will be named to the management committee, as well, the former as co-CEO of GLG and the latter as head of operations and technology.

Roman is still seeking a new head of sales, who will serve on the committee, while the firm's general counsel no longer will, the Financial Times reports.

"The new executive committee will be a cohesive body with an uncompromising focus on delivering performance for investors and shareholders," Man said in an internal memorandum to senior staff.

There will be changes to Man's lower rungs, as well, with Roman expected to seek a number of hires for AHL as he attempts to turn the unit around.

Roman was named Clarke's heir in December. He joined Man in 2010 when the world's largest publicly-listed hedge fund acquired GLG.


In Depth

Fitch Says Alternative Asset Managers 'Stable' Despite Dry Powder

Nov 20 2014 | 9:30am ET

Ratings agency Fitch says the outlook for seven publicly traded alternative asset...

Lifestyle

Cohen Buys $101 Million Sculpture

Nov 12 2014 | 9:17am ET

Steven Cohen was the sole bidder for a rare Alberto Giacometti sculpture at Sotheby...

Guest Contributor

Why The Big Money Is Going To Europe

Nov 14 2014 | 6:03am ET

Peer-to-peer lending was invented with the individual investor in mind. But despite...

 

Sponsored Content

    For Hedge Funds, Mastering Data Is Key To Success

    Nov 4 2014 | 9:45am ET

    Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

November 2014 Cover

Building a better market

Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.