Man Group has appointed Michael Turner (pictured), as Chief Executive Officer (CEO) of Man FRM, its hedge fund investment specialist. Turner will continue to work closely with Keith Haydon, Chief Investment Officer of Man FRM, and Michelle McCloskey, President of Man FRM and Man Americas, in leading Man FRM’s business, which is overseen by Man Group’s President, Jonathan Sorrell.
Turner will join Man Group’s Executive Committee, in addition to continuing to lead Man FRM’s Management Committee.
Turner has served as Chief Operating Officer (COO) of Man FRM and a member of Man FRM’s Management Committee since 2012. As COO of Man FRM, Michael has been responsible for investment infrastructure within Man FRM as well as overseeing the teams responsible for quantitative analysis, managed accounts and client services. Prior to joining Man FRM in 2007, Michael was Head of Research at Aspect Capital and Quantitative Research Analyst at Schroder Salomon Smith Barney.
Turner will be succeeded as COO of Man FRM by Rachel Waters, who joined the firm in 2005. Rachel previously worked alongside Michael as Deputy COO, focusing on understanding and addressing the tactical and strategic needs of the business.
Haydon says: “Having worked closely with Mike at Man FRM for over a decade, I am delighted to congratulate him on his new role as CEO. This appointment reflects the transformation of Man FRM’s business in recent years as we evolve into a provider of customised solutions for our clients. Mike’s leadership will be instrumental as Man FRM continues to grow and diversify its offering and increase collaboration across the Man Group platform.”
Sorrell says: “There has been a meaningful advancement of Man FRM’s business model in recent years, with particular emphasis on developing services for our clients which can leverage the resources and expertise of the whole of Man Group. Our investment in technology and infrastructure, and existing in-house capabilities as an experienced investor in hedge funds, have allowed us quickly scale our managed account platform to meet our clients’ needs in this area. As part of Man FRM’s Management Committee, Mike has played a key role in the success of Man FRM globally, and I look forward to working with him in his new leadership role.”
Turner says: “We have seen a transformative decade for Man FRM’s business and I am looking forward to taking on the role of CEO as the business continues to grow and develop. Through continuing our focus on performance and client service, as well as leveraging Man Group’s scale and investment expertise as we continue to diversify our offering, we are well positioned to meet the changing needs of institutional investors globally.”
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