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Man Group appoints David Mercurio as Head of Asia Equity while Pierre Lagrange becomes Chairman of Man Asia

Monday, September 19, 2011
Opalesque Industry Update - Man Group plc (“Man”) is strengthening its investment management presence in Asia with the appointment of David Mercurio as Head of Asia Equity and co-Head of Global Equity Strategies reporting to Pierre Lagrange.

David, who has 17 years of investment experience, joins from the Government of Singapore Investment Corp (GIC), where he was a senior portfolio manager.

At the same time, Pierre Lagrange, Senior Managing Director of GLG and Executive Committee member at Man, takes on the role of Chairman of Man Asia, in addition to his responsibilities for managing GLG’s global long only and long short equity portfolios out of London. This is a non-executive role which will give him oversight of the expansion of Man’s investment management activities in the region.

Peter Clarke, Chief Executive of Man, said:
“These appointments signal the importance of Asia to the future development of Man. We are already extremely well represented in terms of trading, sales and distribution in Asia and we are determined to increase our investment management capabilities in the region, specifically in China."

Pierre Lagrange, said:
“I am thrilled to have David on board. His extensive experience in the Asia Pacific region, combined with his pre-eminence in the crucial resources and financials sectors, make him the ideal person to drive our expanding investment activities in the region.

The Man transaction cemented our strong presence in Asia and we intend to evolve this further by boosting GLG’s investment management resources locally, complementing our existing investment teams in London and New York. A better local understanding of the Asian economies and markets, and China in particular, is crucial to the future of successful global investing.”

Man has been in Asia for over 15 years, having first established a distribution office in Hong Kong in 1995. It now has extensive resources in Asia, with offices in Hong Kong, Tokyo, Singapore, and Sydney. As of end March 2011, 25 per cent of Man's global funds under management came from Asia Pacific. GLG has a 16-year history of investing in Asia and gained a trading license in Hong Kong in 2010.

David Mercurio, who joined GIC in 2001 from Bankers Trust Australia, has experience across both corporate finance and buy-side investment roles. In his new role, he will operate primarily out of Man’s Hong Kong office.

(press release)

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. As at 30 June 2011, Man managed $71.0 billion. The original business 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 capitalisation of more than £4 billion. Man 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.

GLG, a wholly owned subsidiary of Man (since 14 October 2010), is a global asset management company offering its clients a wide range of performance-oriented investment products and managed account services. Founded in 1995, GLG is dedicated to achieving consistent, superior investment returns through traditional, alternative and hybrid investment strategies. The performance GLG generates for its clients is driven by the proven expertise of its team of investment professionals underpinned by a rigorous approach to investment analysis and a strong focus on risk management.


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