Man Cuts 400 Jobs Following GLG Buy, Citi Outsourcing Deal

Sep 30 2011 | 11:42am ET

In the wake of a 8.5% asset haircut, the Man Group has doubled the number of jobs it plans to cut as it integrates its business with that of GLG Partners, acquired last year.

The world's largest publicly-listed hedge fund manager, which announced this weeks that assets had slumped by US$6 billion in the third quarter, including $2.6 billion in redemptions, plans to lay of 400 people, or 20% of its staff.


In Depth

Fund Focus: Don’t Call K1T Capital A ‘Trend Follower’

Jul 10 2014 | 10:39am ET

You may call K1T Capital many things—systematic, quant-based, hedge fund—but...

Lifestyle

RenTech Founder Donation Establishes Quantitative Biology Institute

Jul 8 2014 | 5:19am ET

James Simons used math to make his fortune, and he’s dedicating some of it to...

Guest Contributor

As Hedge Funds Go Retail, Communications Is Key

Jul 2 2014 | 6:56am ET

The past two years have seen an explosion in the number of hedge fund managers rolling...

 

Sponsored Content

    Northern Trust Helps Hedge Funds Navigate Derivatives Regulations

    Jul 8 2014 | 10:48am ET

    The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…

Service Providers


Publisher's Note