Shares in Man Group dropped by 3.7 per cent at the open. He has been at the helm of Man Group since February 2013.
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PIMCO’s current CEO Douglas Hodge will assume a new role as managing director and senior adviser when Roman joins the group.
Mr. Roman joins PIMCO after a almost three-year stint as the Chief Executive of Man Group, being appointed to the role in 2013.
Pimco on Wednesday said Mr. Its founder and billionaire, Bill Gross, left the firm in 2014 in an acrimonious split he claimed was due to an internal power struggle. At Man Group, the company has already decided his replacement, with Luke Ellis, the longtime company veteran and acting president, serving as his successor. Roman in November. Mr Hodge originally stepped into the Chief Executive at PIMCO back in 2014, following the aforementioned period of upheaval.
Investment group Pimco has raided rival Man Group for its new leader. He is on the executive committee and is responsbile for managing the firm’s four investment units: Man GLG, Man AHL, Man Numeric and Man FRM. Jonathan Sorrell will continue as President of the firm alongside his role as Chief Financial Officer.
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He is an investment professional with almost 30 years experience, most recently as CEO of the Man Group, one of the largest publicly-traded hedge funds in the world. Mr. Ellis has been working alongside Mr. “During his tenure as CEO, Man Group has successfully restructured and diversified and he has put in place an excellent management team”, said Ian Livingston, Man Group’s chairman. “I am confident that we can deliver significant long-term value for our clients and shareholders”.
