Man Group has introduced a new senior management structure alongside a number of internal promotions, following the naming of Luke Ellis as chief executive officer (CEO).
The internal management changes will reallocate certain responsibilities, in line with the growth and diversification of the business.
Jonathan Sorrell’s role as president of Man Group has developed to include a number of areas across the business and the intention is that he will step down as the chief financial officer (CFO), following an orderly transition to the new CFO.
Under his new remit as president, Sorrell will focus alongside Ellis (pictured) on strategic and commercial areas that are fundamental to the firm’s plan and development, with direct responsibility for sales, corporate strategy, M&A, private markets and Man FRM. He will remain on the board of the firm.
Sorrell’s promotion to co-president of the firm in June was reflective of the broader remit and leadership role he has undertaken throughout his five-year tenure at Man Group.
The board intends to appoint Mark Jones, currently co-CEO of Man GLG, as chief financial officer and as an executive director of Man Group. Subject to regulatory approval, he will assume the CFO role following a handover from Sorrell.
Sandy Rattray has been appointed as chief investment officer of Man Group, assuming responsibility for Man AHL, Man Numeric, Man GLG and Man Solutions. This was previously part of Ellis’ role while he served as president of the firm. He will remain CEO of Man AHL and will continue to lead the business strategy.
Robyn Grew has been appointed to the newly created position of chief administrative officer of Man Group. She will have responsibility for the firm’s infrastructure, operations, technology, compliance, legal, human resources and facilities functions, allowing Man Group to focus further on ensuring it has best in class operational functions and a working environment that attracts and retains the best talent in the industry. Grew was previously Man Group’s general counsel and global head of legal and compliance.
Ellis says: “I am pleased to congratulate a number of my high-calibre colleagues at Man Group on their new roles, at what was a natural time to review our management structure. The firm has changed a great deal in the past few years and, with my own role also changing, it made sense to look at the way we are organised and where different responsibilities should lie, so that we have the optimal structure in place to serve our clients and assist me in leading the firm through the next phase of development.
“From a strategic and operational viewpoint, very little will change and we will continue in a ‘business as usual’ manner as the changes are implemented as seamlessly as possible.”
Man Group has also made changes at its discretionary fund management business, Man GLG. Pierre-Henri Flamand has been appointed as chief investment officer, in which role he will work alongside Teun Johnston who remains chief executive officer.
Additionally, Tim Wong, executive chairman of Man AHL and a member of the Man Group executive committee, will become chairman of Man Group Asia. Wong will take over the role from Pierre Lagrange, who will concentrate his focus on Man GLG’s ELS strategy.
