Man Group Promotes Turner To CEO of FRM Unit

Sep 26 2017 | 6:35pm ET

Global hedge fund manager Man Group has promoted Michael Turner to the position of chief executive officer of the company’s Man FRM hedge fund investment unit. 

Turner was previously chief operating officer of Man FRM, one of five units within Man Group. He will be succeeded by deputy COO Rachel Waters. 

In his new role, Turner will continue to work closely with Keith Haydon, CIO of Man FRM, and Michelle McCloskey, president of Man FRM and Man Americas, in leading Man FRM’s business, the company said in a statement. In addition to continuing to lead Man FRM’s management committee, Turner will join Man Group’s executive committee, and will report to Man Group’s president, Jonathan Sorrell. 

Turner has been COO since 2012, where he has been responsible for investment infrastructure within Man FRM as well as overseeing the teams responsible for quantitative analysis, managed accounts and client services. Prior to joining Man FRM in 2007, he was head of research at Aspect Capital and a quantitative analyst at Schroder Salomon Smith Barney.

London-based Man Group, which traces its heritage back to the 1783 founding of a sugar coop and brokerage company by James Man, manages nearly $96 billion through its five investment management businesses – Man GLG, Man AHL, Man FRM, Man Numeric and Man Global Private Markets. It is the largest listed hedge fund manager in the world.  

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