• 19 Feb 2013 at 4:24 PM

The GLG-ification of Man Group Is Nearly Complete

By Jon Shazar

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]

Comments (11)

  1. 1
    Posted by Im_a_Dude | February 19, 2013 at 4:29 PM

    you can go home now shazar

  2. 2
    Posted by Guesti | February 19, 2013 at 4:36 PM

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

  3. 3
    Posted by Fed up Grammar Quant | February 19, 2013 at 4:48 PM

    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. 4
    Posted by 1st year Slut Quant | February 19, 2013 at 4:52 PM

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

  5. 5
    Posted by velvet melvin | February 19, 2013 at 5:11 PM

    my heart bleeds for your parents

  6. 6
    Posted by Guesticular Quant | February 19, 2013 at 5:16 PM

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

  7. 7
    Posted by guest | February 19, 2013 at 5:20 PM

    shazawful, shazameful, shazarted

  8. 8
    Posted by jon corzinr | February 19, 2013 at 5:53 PM

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

  9. 9
    Posted by HFguy | February 19, 2013 at 7:14 PM

    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. 10
    Posted by Nerd Slayer | February 20, 2013 at 1:28 PM

    Actually, you are the most stupidest.

  11. 11
    Posted by Ruth-Elise Basturds | February 21, 2013 at 6:03 PM

    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.