Man Group has made a key strategic hire as it plans to expand the business into mainland China, recruiting one of the country’s leading businesswomen, Yifei Li, as Country Chair, Ch
Man Group has made a key strategic hire as it plans to expand the business into mainland China, recruiting one of the country’s leading businesswomen, Yifei Li, as Country Chair, China. Li has 18 years of senior management experience. Prior to joining Man Group Li worked representing GLG Partners, acquired by Man last October, and was also Managing Director of MTV Networks Greater China. Li will work alongside Pierre Lagrange, co-founder of GLG Partners, who last month was appointed Asia chairman – a newly created role – for Man Group, the world’s second largest hedge fund manager. Lagrange was quoted in the Financial Times as saying: “We take the view that China is going to be a very big part of growth for the world. It is a perfect time to expand there.” In the official press release he added that Man and GLG had a “long history” of investing in China and that he was confident “Yifei will successfully deliver our goal of expanding in the region”. Man chief executive, Peter Clarke (pictured), said the firm was already extremely well represented in terms of trading, sales and distribution in Asia and that “expansion in China is the natural next step”. Commenting on Li’s appointment Clarke added: “We are thrilled that she will be leading Man’s drive to establish its presence there.”
