Man FRM, the hedge fund investment arm of Man Group, has appointed Michael Turner as the new CEO.

Turner will work closely with Man FRM CIO Keith Haydon, Man FRM and Man Americas president Michelle McCloskey in heading Man FRM.

Turner will also join the executive committee of Man Group and continue to lead Man FRM’s management committee, where he has been serving as a member since 2012.

Before joining Man FRM in 2007, he served as the head of research at Aspect Capital and quantitative research analyst at Schroder Salomon Smith Barney.

Turner was previously the COO at Man FRM, a role that will now be taken over by deputy COO Rachel Waters who has been working at the firm since 2005.

Man FRM CIO Keith Haydon said: “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.”