Tags: Emmanuel Roman, firing people is expensive, GLG Partners, Man Group, net inflows!
The hedge fund formerly known as GLG Partners is setting aside a few more pounds to print a few more pink slips.
Man Group, the world’s second-largest hedge fund, has revealed an additional $90m in restructuring charges, with $30m set aside to dismiss staff over the course of the next three months – drawing out an already long and painful series of cutbacks.
On the bright side, for the first time in the Manny Roman era, investors are entrusting more money to Man than they are redeeming from it. Which is progress. Read more »
Tags: does this award come with a large cash prize?, Extel rankings, GLG Partners, Man Group
The formerly prominent hedge fund got more than an entirely new executive team from its reverse-merger with GLG: It got a shiny award proving that the whole company isn’t totally useless. Read more »
Tags: Man Group
Manny Roman isn’t having a great first day at the helm of the Man Group. Read more »
Tags: GLG Partners, Man Group
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. Read more »
Tags: algorithms, earthquakes, Japan, Man Group, that's gonna leave a mark, tsunamis
The firm’s flagship fund has lost $2 billion over the past month as a result of a “bullishly positioned portfolio.” Read more »
Tags: AHL, departures, GLG, Man Group
As we mentioned last week, in the wake of the GLG buy, things are not looking so good inside Man Group. Redemptions are “mounting,” bonus outlook is bad to very bad and employees are making a dash for the exits. Today Financial News confirms the departures of 8 of the 15 front office employees who’ve taken off. Read more »