Following the acquisition of GLG by Man on 14 October, Man has appointed Richard Phillips as head of UK retail for the combined business.

Phillips, previously co-head of UK retail for GLG, will assume responsibility for developing and implementing the business’ retail sales strategy in the UK.

Key focuses for Man in the UK retail market include Man AHL Diversity and a range of products from GLG’s existing suite of absolute return and long-only products.

Phillips joined GLG from SGAM where he had worked since 1998 as head of UK retail.

Phillips says: “Both Man and GLG offer outstanding retail investment funds which have delivered excellent risk-adjusted returns for their respective investors. This is a very exciting time to assume this position.”

Raffaele Costa, head of sales, Europe and North America at Man, says: “Richard was instrumental to business development at both GLG and SGAM and was thus the natural candidate to assume this important position within the combined business. We believe we are very well positioned for asset growth over the coming years and Richard will play a leading role in developing our proposition in the UK.”