Man Group has cut jobs and elevated long-time executive Greg Bond to the newly created role of Chief Investment Officer, as CEO Robyn Grew pushes ahead with an overhaul of the firm’s leadership structure, according to a report by Bloomberg.
Bond, currently CEO of Man Numeric and Head of Americas, will now serve as the group-wide CIO, overseeing investment strategy across Man’s diverse platform, which includes leading systematic and discretionary hedge fund strategies. His appointment marks a key step in consolidating leadership at a time when the $167bn asset manager is navigating market volatility, mixed fund performance, and evolving technological frontiers.
The restructuring comes amid what Grew described in an internal memo as “tough decisions,” which led to unspecified job cuts — the second round of reductions in under a year. While Man Group emphasized that the headcount reduction was “small,” it reflects the firm’s renewed focus on operational efficiency and long-term positioning.
The leadership shake-up includes several senior moves aimed at integrating the firm’s discretionary and systematic businesses more closely.
Steven Desmyter, President, adds oversight of the discretionary division to his existing sales and marketing role, while Russell Korgaonkar, CIO of Man AHL, becomes Head of Systematic. Dan Taylor meanwhile, CIO of Man Numeric, steps in as Deputy Head of Systematic, Michael Kasper assumes the dual role of COO and Head of Systematic Strategy, Antoine Forterre, CFO, now also becomes COO, taking responsibility for financial and operational risk, central trading, and treasury.
In addition, Kate Squire, Head of Non-Financial Risk, becomes Chief Administrative Officer in addition to her current responsibilities, while long-serving COO Doug Hamilton will leave the firm to pursue opportunities in the US.
The changes come during a challenging year for Man Group’s flagship quant funds, with the AHL Alpha, Dimension, and Evolution strategies all reporting double-digit losses year-to-date. Meanwhile, Man Numeric’s Emerging Markets Core Strategy is up over 18%, highlighting the uneven landscape across styles and geographies.
