Alternative Market Briefing

The perfect circle brings Luke Ellis back to FRM

Thursday, November 22, 2012

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Luke Ellis By Beverly Chandler, Opalesque London:

In his role as chief executive officer of FRM, Man Group’s newly remodelled fund of funds business, Luke Ellis has every right to feel that he got his baby back. Ellis joined Blaine Tomlinson at FRM in 1998, built the fund of funds’ firm FRM up through its independent years, and then left to take up the good life down on the farm (literally).

He returned to the hedge fund world in 2011, to the Man Group and now gloriously, has been reunited with his business with the Man Group’s purchase of FRM in May 2012. Seeing the FRM logo go up on the wall of the Man Group’s reception had a sentimental appeal for Ellis, he reveals in an interview with Opalesque.

The newly re-modelled FRM includes the remains of Man Group’s other fund of fund businesses, including the Swiss based firm RMF, which had suffered a near catastrophic fall in assets through significant exposures to Madoff.

The combined FRM was completely integrated before the London Olympics were finished and Ellis is now spearheading a $19bn fund of fund business which, despite the torrid time the industry generally and Man in particular has endured over the last five years, is still a larger pot of cash than FRM had at its independent peak.

"The good thing about bringing the two businesses together is that from a shareholder's point of view, the operational efficiency is important and from a client’s......................

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