Prudential Nabs Ex-Man Head

Aug 14 2008 | 10:53am ET

Insurance giant Prudential has picked former Man Group executive Harvey McGrath to serve as its next chairman.

McGrath spent almost three decades at Man, which is the word's largest listed hedge fund firm, eventually serving as chief executive and then, until his retirement last year, chairman. He joined the firm as treasurer in 1980, helping build the firm from a small sugar-trading operation into a giant alternative investments firm. He also served as finance director and head of brokerage Man Financial.

McGrath will join Pru’s board on Sept. 1, and will takeover for outgoing chairman David Clementi in January.

According to The Times of London, McGrath was the venerable insurer’s second choice. Pru had reportedly hoped to nab Winfried Bischoff for the post, but Bischoff took the executive chairmanship at Citigroup.


In Depth

FINalternatives Survey: We Asked Investment Pros...

Apr 2 2016 | 9:42pm ET

The data from our annual reader survey continues to roll in and provide interesting...

Lifestyle

Point72's Cohen Donates $275M To Veterans Mental Health Network

Apr 6 2016 | 8:31pm ET

Billionaire hedge fund manager Steve Cohen has formed a non-profit aimed at treating...

Guest Contributor

Agecroft: Why NYCERS Should Reconsider Exiting All Hedge Funds

Apr 18 2016 | 5:51pm ET

The recent decision by the New York City Employment Retirement System to exit its...