NEW YORK, June 16, 2011 /PRNewswire/ -- Man Group announces the appointment of Lance Donenberg and Jordan Allen as Co-Chief Operating officers of Man's US business. Messrs Donenberg and Allen report directly to Emmanuel Roman, Chief Operating Officer of Man Group.
"Expanding our US business is a core part of our strategy going forward," said Mr. Roman. "We are excited to have in place a team we believe can effect this growth."
Mr. Donenberg, who is currently Chief Operating Officer of GLG Inc., focuses primarily on sales, business development and key distribution relationships working closely with Raffaele Costa, Managing Director and Head of Sales for North America and Europe(1). Mr. Allen, who most recently served as Chief Operating Officer of Ore Hill Partners, a Man subsidiary, oversees US business operations and also serves as Chief Financial Officer.
Separately, Man announces the appointment of Tim Gullickson as Managing Director in the Client Advisory Group, where he will promote the full range of Man's products and services to Midwest-based institutions and public funds nationally. Mr. Gullickson is based in Man's Chicago office and reports to Mr. Costa. Before joining Man, Mr. Gullickson was Managing Director and Head of Business Development at Stark Investments, where he marketed hedge funds to North American institutional investors. His appointment reinforces Man's dedication to building strategic institutional partnerships in the US market.
"The US market is a key area of growth for Man. It demands sophisticated coverage and unique product solution offerings. We are committed to building on our relationships and reputation in the US and we believe we have the right products, team and infrastructure firmly in place to deliver what US investors are seeking," said Mr. Costa.
Man is a world-leading alternative investment management business. It has expertise in a wide range of liquid investment styles including managed futures, equity, credit and convertibles, emerging markets, global macro and multi-manager, combined with powerful product structuring, distribution and client service capabilities. Man's funds under management as of March 31, 2011 were $69.1 billion(2).
Man was founded in 1783. Today, Man Group plc is listed on the London Stock Exchange and is a member of the FTSE 100 Index with a market capitalization of around $7.4 billion.
Man Group is a member of the Dow Jones Sustainability World Index and the FTSE4Good Index. Man also supports many awards, charities and initiatives around the world, including sponsorship of the Man Booker literary prizes. Further information can be found at www.mangroupplc.com.
1. Excluding German speaking countries
2. This represents unaudited final figures both onshore and offshore products which may not be available to US investors.
This material is distributed by Man Investments Inc. ("Man Investments"), which is registered as a broker-dealer with the U.S. Securities and Exchange Commission ("SEC") and is a member of the Financial Industry Regulatory Authority ("FINRA") and the Securities Investor Protection Corporation ("SIPC"). The registrations and memberships described in the preceding sentence in no way imply that the SEC, FINRA or SIPC have endorsed any of the referenced entities to provide any of the services discussed herein. Man Investments is a member of the Man Investments' division of Man Group plc. "Man Group" refers to the group of entities affiliated with Man Group plc.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of any securities related to the strategies discussed in this press release in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to any required registration or qualification in such state or jurisdiction. Investors should consider carefully information contained in an offering document before investing in any product related to the discussion in this press release. Investment value in any product will fluctuate and shares, when redeemed, may be worth more or less than their original cost.
Certain statements in this press release, such as those related to Man Group plc ("Man") and expansion of its product line constitute forward-looking statements, which involve known and unknown risks, uncertainties and other factors that may cause the actual results, levels of activity, performance or achievements of Man, or industry results, to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. Among other risks and uncertainties is the ability of Man to successfully expand its product line.
SOURCE Man Group