Ex-Man Group Chief Sells 5 Million Shares

Nov 30 2007 | 10:26am ET

Eight months after retiring from his post as head of the world’s largest publicly-traded hedge fund manager, Stanley Fink has cashed in some of his stake in Man Group.

The London-based firm said in a note to the London Stock Exchange that Fink sold 5 million shares—about a quarter of his stake—for more than £27 million (US$55.9 million). Now the firm’s non-executive deputy chairman after retiring as CEO in March, Fink still owns more than 14.5 million shares.

Man’s stock price has been on the rise since this summer’s credit crisis, rising 17.2% over the past three months. Fink actually added to his stake in August, buying an additional 100,000 shares.


In Depth

GSAM’s Papagiannis on Liquid Alternatives

May 25 2016 | 5:07pm ET

The popularity of liquid alternatives strategies has blossomed in recent years,...

Lifestyle

From Modern Trader: Stephen Curry is a Black Swan

May 18 2016 | 7:43pm ET

What do the rise of the Internet, the sinking of the Titanic, 9/11, and Stephen...

Guest Contributor

LendingClub and the Question of Internal Hedge Funds

May 19 2016 | 8:42pm ET

Peer-to-peer lending platform LendingClub Corp. has been in the news since the firm...