British hedge fund firm Man Group has appointed Luke Ellis as its new CEO, replacing Emmanuel (Manny) Roman, who is taking up the role of CEO at PIMCO from 1st November 2016.
Roman will step down from firm’s board on 31st August 2016 and Ellis service will be effective from 1st September 2016.
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Ellis, who is currently president of Man Group, will be responsible for managing company’s four investment units, Man AHL, Man GLG, Man Numeric and Man FRM.
Prior to his new role, Ellis served the Man Group as head and CIO of firm's Multi-Manager Business and non-executive chairman of GLG’s Multi-Manager activities. He also held senior roles at FRM and JPMorgan.
The company said that Jonathan Sorrell will continue as firm’s president alongside his role as chief financial officer.
Man Group chairman Ian Livingston said: "On behalf of the Board, I would like to thank Manny for his leadership and for all he has done for Man Group; he leaves a much stronger, more resilient business than the one he took on. During his tenure as CEO, Man Group has successfully restructured and diversified and he has put in place an excellent management team.
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By GlobalData“Luke Ellis’ dedication to Man Group and commitment to delivering performance for investors, as well as the leadership he has already demonstrated, makes him the ideal candidate to take over from Manny.”
Roman said: “Luke Ellis has worked closely with me for the past seven years and I have known him for more than two decades. He is a superb leader for the business and a good friend, and I am pleased that he will be taking over from me to continue building a diversified and resilient firm focused on performance and serving our clients.”
Roman will work alongside Ellis and Sorrell during a handover period which will last until he steps down on 31st August 2016, the firm added.
