Noam Gottesman, a founding partner and Principal of GLG Partners, Inc has stood down as co-CEO and taken on the role of non-executive Chairman of GLG’s business and interests in the US (GLG (US)). Manny Roman continues as sole CEO of GLG and Chief Operating Officer of Man Group plc.
Jon Aisbitt (pictured), Chairman of Man Group, says: “We thank Noam for his contribution in helping to integrate GLG into Man. He has outstanding entrepreneurial talents and market expertise which will continue to be available to Man in his new role as non-executive Chairman of GLG (US).”
Gottesman says: “The first priority following the combination of Man and GLG was to complete the integration of the two businesses. This has now been successfully achieved and therefore I have decided to move to a non-executive role. This will give me the time to develop a portfolio of non-competing business and other interests. I remain fully committed to Man as a significant shareholder in the company and investor in GLG funds.”
The fund lock up and share lock up arrangements entered into by Gottesman at the time of Man’s acquisition of GLG remain unaltered and the restrictive covenants also remain in place.
