RNS Number : 5525F
Man Group plc
18 June 2012
18 June 2012
Man appoints new Finance Director
Kevin Hayes, who joined Man Group plc ("Man") as Finance Director in 2007, is leaving the company to pursue other professional and personal interests. Jonathan Sorrell, currently Man's Head of Strategy and Corporate Finance, is taking over as Finance Director with immediate effect.
Jon Aisbitt, Chairman of Man, said:
"I would like to thank Kevin on behalf of the Board for his contribution as Finance Director over the past five years and wish him every success for the future. Jonathan's appointment follows a rigorous process to identify the best possible candidate. Since he joined the company, he has demonstrated the strong all round financial and commercial skills necessary for the role. His promotion to the Board will bring new talent and focus to the senior executive team."
Peter Clarke, Chief Executive of Man, said:
"Since joining Man last year, Jonathan has played a key role, most recently in structuring the proposed acquisition of FRM. In his new position, Jonathan's experience in financial markets, especially his deep working knowledge of the hedge fund industry, will be extremely valuable as we continue to develop and evolve in challenging world markets. He has a strong background in strategy and execution and will bring clear focus on costs and financial efficiency."
Jonathan Sorrell joined Man in August 2011 as Head of Strategy and Corporate Finance. He spent more than a decade at Goldman Sachs, where he worked in the Investment Management, Securities and Investment Banking Divisions, latterly leading investments in a broad range of hedge fund firms.
Man's next scheduled public announcement will be its Interim Results on 24 July 2012.
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Man is a world-leading alternative investment management business. It has expertise in a wide range of liquid investment styles including managed futures, equity, credit and convertibles, emerging markets, global macro and multi-manager, combined with powerful product structuring, distribution and client service capabilities. As at 31 March 2012, Man managed $59.0 billion.
The original business was founded in 1783. Today, Man is listed on the London Stock Exchange and is a member of the FTSE 250 Index with a market capitalisation of around £1.3 billion.
Man is a signatory to the United Nations Principles for Responsible Investment (PRI). Man also supports many awards, charities and initiatives around the world, including sponsoring the Man Booker literary prizes and the Man Asian Literary Prize. Further information can be found at www.man.com.
Forward looking statements and other important information
This document contains forward-looking statements with respect to the financial condition, results and business of Man Group plc. By their nature, forward looking statements involve risk and uncertainty and there may be subsequent variations to estimates. Man Group plc's actual future results may differ materially from the results expressed or implied in these forward-looking statements.
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Nothing in this announcement should be construed as or is intended to be a solicitation for or an offer to provide investment advisory services.
Nothing in this announcement is intended to be a profit forecast or a profit estimate for any period or a forecast of future profits and statements relating to earnings accretion or enhancement should not be interpreted to mean that earnings per Man ordinary share for the current or future financial periods will necessarily match or exceed its historical published earnings per share.
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