UK asset manager Man Group has announced long-term chief executive Luke Ellis will retire later this year with current president Robyn Grew set to take the top job.
Ellis will step down in September to ensure an orderly transition and oversight of its 2023 interim results.
He joined Man Group in 2010, having previously been chair of GLG’s multi-manager activities and a managing director of Man FRM between 1998 and 2008.
The London-listed firm has $143 billion in AUM.
Grew will relocate from the US to the UK following her appointment in September but will continue to spend a substantial proportion of her time in the US.
Grew joined Man Group in 2009, having previously held senior roles at Barclays Capital, Lehman Brothers, and futures and options exchange LIFFE.
Since joining Man Group, Grew has held several senior roles, including group chief operating officer, head of ESG and general counsel, and also oversaw the reorganisation of the group’s corporate structure in 2019.
In a statement, Ellis said: “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.”
John Cryan, chair of Man Group, said: “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 added: “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.”
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