Jonathan Sorrell, currently Man’s Head of Strategy and Corporate Finance, is to replace Ken Hayes as Finance Director with immediate effect. Hayes, who joined Man in 2007, is leaving the company to pursue other professional and personal interests.
Jon Aisbitt (pictured), Chairman of Man, says: “I would like to thank Kevin on behalf of the Board for his contribution as Finance Director over the past five years and wish him every success for the future. Jonathan’s appointment follows a rigorous process to identify the best possible candidate. Since he joined the company, he has demonstrated the strong all round financial and commercial skills necessary for the role. His promotion to the Board will bring new talent and focus to the senior executive team.”
Peter Clarke, Chief Executive of Man, says: "Since joining Man last year, Jonathan has played a key role, most recently in structuring the proposed acquisition of FRM. In his new position, Jonathan's experience in financial markets, especially his deep working knowledge of the hedge fund industry, will be extremely valuable as we continue to develop and evolve in challenging world markets. He has a strong background in strategy and execution and will bring clear focus on costs and financial efficiency.”
Jonathan Sorrell joined Man in August 2011 as Head of Strategy and Corporate Finance. He spent more than a decade at Goldman Sachs, where he worked in the Investment Management, Securities and Investment Banking Divisions, latterly leading investments in a broad range of hedge fund firms.