From Precy Dumlao, Opalesque Asia – Emmanuel Roman, the incoming chief executive officer at the world’s largest listed hedge fund Man Group, is set to implement a high level management reshuffle and double the number of the executive committee, various media reported.
In a report, Roman, who is set to take over from Peter Clarke on February 28, is said to increase the number of meetings of the executive committee from monthly to weekly.
Another report said Roman would appoint several former colleagues and introduce more control over the day-to-day operations of the hedge fund after its share price fell 36% and saw Clarke give up his role.
The sweeping management shake-up is also seen as Roman’s bid to consolidate his power base in Man Group. The Financial Times quoted a memorandum announcing the changes as saying, "The new executive committee will be a cohesive body with an uncompromising focus on delivering performance for investors and shareholders."
The overhaul in Man Group came as its fund of hedge funds business FRM forecasted that reduced policy intervention in 2013 would lead......................
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