Congratulations, Manny Roman! Here’s a Celebratory Bag of Sh*t

Manny Roman isn’t having a great first day at the helm of the Man Group.

Even before he formally took over, things weren’t looking good: A GLG analyst, Carl Esprey, was among three hedge funders arrested by the Brits yesterday for insider-trading. Then, to herald his formal ascension, this:

Man Group’s funds had $2.7 billion of net outflows in the three months to Dec. 31, the sixth quarter of outflows in a row. Assets under management fell to $57 billion at the end of December, the company said in a statement on Thursday.

Mr. Roman said in the statement that “2012 was another tough year for Man. Trading conditions were highly challenging as markets continued to be dominated by political uncertainties in Europe and the U.S. and macroeconomic risks. Investor appetite remained muted.”

Oh yea, and it’s not getting any better:

He also said “business conditions remain very tough”, adding that “sales are likely to remain muted in the first half, and we are yet to see a slowdown in the rate of redemptions.”

GLG’s Esprey among those arrested by FSA -source [Reuters]
Investor Outflows Continue at Man Group [NYT]
Man Group Assets Fall, Adding to Pressure on New Chief Roman [Bloomberg]

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13 Responses to “Congratulations, Manny Roman! Here’s a Celebratory Bag of Sh*t”

  1. Guest says:

    Bag of sh*t = compilation of Shazar's posts…

  2. Hungry Cop says:

    Hey Shazar, I'm gunna baste you like a shazurkey and eat you!

  3. Que es Shazar says:

    I suspect I would have enjoyed this schadenfreude a hell of a lot more if Bess authored it. No, I'm now certain I would have. Shazar, Clusterstock is hiring…just a thought.

  4. Im_a_Dude says:

    Shazar, you're not having a great day either.

  5. John Doe says:

    He' s still richer than you.

  6. Shaz's Inner Thought says:
  7. Matt's Excel 2007 says:

    Matt is this true?

  8. The abuser says:

    Last good trade these guys made was spinning out Man Financia/MF for 30 $ share in 2007 ( 3 bil )

  9. Vamp Squid says:

    The Shazster is the third offical member of DJ Jazzy Jeff and the Fresh Prince