Bloomberg – Man Group Plc, the biggest publicly traded hedge fund manager, combined two computer-driven hedge fund units and made management changes in recent weeks before Emmanuel Roman takes over as chief executive officer next week.<\/p>\n
Luke Ellis, who has been head of the FRM fund of hedge funds unit, was named president of London-based Man Group, David Waller, a company spokesman, said today. Ellis has oversight of the investment operations of Man\u2019s three main investment divisions — FRM, GLG Partners and ALM, which runs the firm\u2019s largest hedge fund, AHL.<\/p>\n
AHL, which has underperformed its peers and lost assets to client withdrawals, is being combined with the Man Systematic Strategies group, Waller said. AHL\u2019s assets under management fell to $16.3 billion in the third quarter of last year, from $16.7 billion three months earlier and from $19.5 billion as of March 31.<\/p>\n
Other recent senior-level changes include Sandy Rattray, named CEO of AHL. He replaced Tim Wong, who is now executive chairman of AHL. Mark Jones and Teun Johnston were named co-CEOs of GLG. Jones had been the chief operating officer of that unit.<\/p>\n