REG - Man Group plc - Man Group appoints next CEO

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11/05/2023 07:00

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RNS Number : 0843Z  Man Group plc  11 May 2023

FOR IMMEDIATE RELEASE

 

Man Group plc

("Man Group" or "the Company")

 

Man Group appoints Robyn Grew as next CEO as Luke Ellis announces retirement

 

London, 11 May 2023 - Man Group, the global, technology-empowered active
investment management firm, today announces that Luke Ellis has informed the
Board of his decision to retire and that Robyn Grew will be appointed as the
next CEO of Man Group.

 

Robyn is currently President of Man Group and a member of the Senior Executive
Committee, based in the US. She has significant operational and financial
services experience as well as a strong track record of demonstrating
strategic vision and leadership.  During her 14 years at Man Group, Robyn has
managed the solutions business, overseen trading and execution as well as
acted as Group COO, Head of ESG and General Counsel. Her wide-ranging
responsibilities, spanning from investment divisions, risk and technology to
legal, infrastructure and operations, have provided her with broad experience
and a deep understanding of the business.  She has been integral to the
firm's global strategic expansion and oversaw the reorganisation of Man
Group's corporate structure in 2019 to better align it with the global
footprint of the business.  She has also spearheaded the firm's diversity
programme, Drive.

 

Before joining the firm in 2009, Robyn held senior positions at investment
banks Barclays Capital and Lehman Brothers as well as at LIFFE, the largest
futures and options exchange in London - since renamed the ICE Futures Europe.
These roles saw her based for periods of time in New York, London and Tokyo
giving her broad, global experience.

 

Robyn will take over from Luke as CEO as of 1 September 2023, at which time
she will also join the Man Group Board as an executive director. While she
will relocate to the UK following her appointment, she will continue to spend
a substantial proportion of her time in the US, given the firm's presence
there. Luke will continue as CEO and remain an executive director of the
Company until 1 September 2023 to ensure an orderly transition and oversight
of the Company's 2023 interim results.

 

In line with best practice and its roles and responsibilities, the Nomination
Committee of the Board has continually reviewed and discussed Board and
executive succession plans. This has included identifying potential internal
successors for the CEO role and, with the assistance of an external executive
search firm, undertaking a thorough preparatory external benchmarking
exercise.  Following Luke's decision to retire, the Board was pleased to be
able to implement its succession plans and immediately approve the appointment
of Robyn as the Company's next CEO.

 

 

 

 

John Cryan, Chair, Man Group, commented:

 

"Luke has had a long and distinguished career in the City, leading several
organisations before he landed at Man Group. He has been a fantastic,
visionary leader, inspiring the firm to reposition itself for the future and
working closely with his leadership team to oversee a period of tremendous
growth. He has also played a significant part in developing a great culture
that makes Man Group such a wonderful place to work. The fact that we have
been able to make an appointment internally for his successor is a reflection
of the highly talented team that he has developed around him. We thank him for
his leadership of the firm over the past seven years and wish him the very
best for his retirement.

 

"I know I speak for the entire Board when I say what a pleasure it is to be
able to announce Robyn Grew as the next CEO of Man Group. Robyn is a dynamic,
strategic leader with deep operational and commercial expertise, who knows the
firm inside-out and is the perfect fit to take the firm on the next phase of
its journey."

 

Anne Wade, Chair Designate, Man Group, added:

 

"I am excited by Robyn's vision and ambition for Man Group as a global, active
investment firm, as well as her undeniable passion for creating a
collaborative and diverse culture at the firm. Having worked closely with
Robyn for over three years, I have seen what a strategic thinker she is,
continually improving some of the firm's most complex areas.  I look forward
to working together even more closely once we have both assumed our new roles
later in the year."

 

Robyn Grew said:

 

"It is an absolute honour to be taking on the role of CEO at Man Group. During
more than a decade working at the firm, it has developed into a world leading,
technologically brilliant, active investment firm with a fantastically
collegiate culture. I look forward to building on that to ensure the firm
remains positioned at the forefront of active investing, attracting top talent
and delivering for our clients and shareholders alike. Luke has been an
incredible ally and mentor to me and I am excited to be able to follow in his
footsteps into this new role."

 

Luke Ellis commented:

 

"It has been a privilege to be CEO of Man Group and it is easy to want to stay
on forever when you are leading such a great team of people. However, I feel
that now is the right time to pass the reins to the next custodian of this
firm and having worked with Robyn for well over a decade I could not be more
thrilled at her appointment. Robyn is truly exceptional and I know that the
firm will continue to go from strength to strength under her leadership and
that of the highly talented team around her."

 

Regulatory disclosures:

This announcement contains inside information for the purposes of Article 7 of
the UK version of the Market Abuse Regulation (EU) 596/2014 ("UK MAR"), and is
disclosed in accordance with the Company's obligations under Article 17 of UK
MAR. Upon the publication of this announcement via a Regulatory Information
Service, this inside information is now considered to be in the public domain.
The person responsible for making this disclosure on behalf of the Company is
Elizabeth Woods, Company Secretary.

This announcement is made pursuant to Listing Rule 9.6.11R.   In accordance
with Listing Rule 9.6.13R (1), the Company notes that Robyn Grew is a director
of ReNew Energy Global plc, a renewable energy solutions provider, which is
listed on Nasdaq. There are no matters to be disclosed in connection with
Listing Rule 9.6.13R (2) - (6).

Details of Robyn Grew's remuneration arrangements following her appointment to
the Board will be disclosed in full in the Company's 2023 Directors'
Remuneration Report.  Such arrangements will be consistent with the Company's
approved Directors' Remuneration Policy.

Information equivalent to that required under section 430(2B) of the
Companies Act 2006 in relation to Luke Ellis's remuneration will be made
available on the Company's website following his departure from the Board.

 

About Man Group

Man Group is a global, technology-empowered active investment management firm
focused on delivering alpha and portfolio solutions for clients. Headquartered
in London, we manage $144.7 billion* and operate across multiple offices
globally.

We invest across a diverse range of strategies and asset classes, with a mix
of long only and alternative strategies run on a discretionary and
quantitative basis, across liquid and private markets. Our investment teams
work within Man Group's single operating platform, enabling them to invest
with a high degree of empowerment while benefiting from the collaboration,
strength and resources of the entire firm. Our platform is underpinned by
advanced technology, supporting our investment teams at every stage of their
process, including alpha generation, portfolio management, trade execution and
risk management.

Our clients and the millions of retirees and savers they represent are at the
heart of everything we do. We form deep and long-lasting relationships and
create tailored solutions to help meet their unique needs.

Man Group plc is listed on the London Stock Exchange under the ticker EMG.LN
and is a constituent of the FTSE 250 Index. Further information can be found
at www.man.com (http://www.man.com)

*As at 31 March 2023. All investment management and advisory services are
offered through the investment "engines" of Man AHL, Man Numeric, Man GLG, Man
Solutions / FRM and Man GPM.

 

 

Enquiries

Karan Shirgaokar

Head of Investor Relations

+44 20 7144 1434

investor.relations@man.com (mailto:investor.relations@man.com)

 

Georgiana Brunner

Head of Communications

+44 20 7144 1000

media@man.com (mailto:media@man.com)

 

Elizabeth Woods

Company Secretary

+44 20 7144 1733

company.secretarial@man.com (mailto:company.secretarial@man.com)

 

Kit Dunford

FTI Consulting

+44 77 717 417 038

man@fticonsulting.com (mailto:man@fticonsulting.com)

 

 

 

 

 

 

 

 

 

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