The GLG-ification of Man Group Is Nearly Complete

It sure was clever of GLG Partners’ to get Man Group to pay $1.6 billion for the pleasure of being conquered from within.

Now, this isn’t the first time a firm has paid handsomely for what amounts to a reverse-merger. And it has yet to prove as disastrous. But incoming Man CEO Manny Roman isn’t at all shy about making clear who took over who.

The overhaul will amount to a significant consolidation of Mr Roman’s own power base in the company and will indicate the extent to which he will exercise far more executive control over its day-to-day operation.

A management reshuffle will close to double the size of Man’s executive committee. The committee, under which Mr Clarke met monthly, will now meet weekly.

Roman’s plan is to merge Man’s flagship AHL strategy with GLG and its fund of funds business, FRM. Ex-GLG adviser Luke Ellis will lead the combined unit as president. Another GLG vet, Sandy Rattray, takes over AHL, and GLG COO Mark Jones gets a promotion to CEO of the unit. And GLG vet Simon White takes over as head of operations and technology. All will be members of the expanded management committee.

Man Group set for management shake-up [FT]

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11 Responses to “The GLG-ification of Man Group Is Nearly Complete”

  1. Im_a_Dude says:

    you can go home now shazar

  2. Guesti says:

    1. Post completely irrelevant article
    2. Add unwitty tags
    3. ?????
    4. Loses

  3. Fed up Grammar Quant says:

    If you insist upon continuing to post this meaningless drivel, at least have the common decency to use proper stylings in the three sentences you actually write.

    …who took over whom

    Other than that, many concerns.

  4. 1st year Slut Quant says:

    Matt, can we get a bar or pie chart to spice up this disaster!

  5. velvet melvin says:

    my heart bleeds for your parents

  6. Guesticular Quant says:

    Shazar, had your balls even dropped yet with Citi bought Old Lane? For that matter, have they now?

  7. guest says:

    shazawful, shazameful, shazarted

  8. jon corzinr says:

    Man has been straight downhill since they spun out man financial/global in july 2007

  9. HFguy says:

    MAN's take over of GLG was one of the most stupidest things I have seen in the city. MAN just destroyed a great firm. What was that saying again. " Never play with idiots, they will bring you down to their level and beat you with experience" . All this shake up now is just two behemoths colliding with each other.

  10. Ruth-Elise Basturds says:

    Mr Roman was to GS what Philby was to MI5, the mole who rarely missed an opportunity to call his friends and clients to keep them apprised of unannounced forthcoming new issues, or the latest HF (and their positions) that GS's Prime was about to forcibly liquidate. Mr Ellis was well known while at JPM for being a prodigious manipulator of marks on his derivative positions ramping and dumping as required to bend and lean settlement prices in his favour , whether OTC or exchange-traded. So great is his integrity that when UK regulators caught him red-handed he denied all knowledge and responsibility of his instructions, but not before blaming it all on his executing traders who were ritually hung and quartered. MAN's board and shareholders should be proud that they've selected the right men for such a challenging task.