Man Group Restructures Following CEO Exit

Sandy Rattray is the hedge fund giant’s new CIO as part of a raft of senior management changes.

Man Group has reshuffled a number of senior management roles in the wake of the departure of CEO Manny Roman.

Sandy Rattray has been named CIO of Man Group, the company said in a statement. He is currently CEO of AHL, Man Group’s quantitative strategies business, and will retain this role. He has also led Man Systematic Strategies as CIO, and worked in the group’s GLG subsidiary from 2007. Previously at Goldman Sachs for 15 years, Rattray is a co-inventor of the Vix index.

Jonathan Sorrell, currently president and CFO, is to give up the latter role and take on more responsibilities including corporate strategy, sales, and mergers and acquisitions. Mark Jones, currently co-CEO, will become CFO, with Luke Ellis becoming the sole CEO.

Ellis said it was a “natural time” to restructure the management team, following Roman’s appointment as CEO of PIMCO in July. Roman starts his new role on November 1.

“Man Group has changed a great deal in the past few years,” said Ellis. “With my own role also changing, it made sense to look at the way we are organized and where different responsibilities should lie, so that we have the optimal structure in place to serve our clients and assist me in leading the firm through the next phase of development.”

Ellis added that “very little will change and we will continue in a ‘business-as-usual’ manner as the changes are implemented as seamlessly as possible.”

Related: Man Group CEO Roman to Lead PIMCO