Man Group chief Manny Roman to join PIMCO as CEO
Steps down at end of August
Emmanuel (Manny) Roman will step down as Man Group CEO at the end of August to take up a new role as head of PIMCO.
Luke Ellis, who has worked alongside Roman since 2012 as president of Man Group, will succeed him as CEO on 1 September.
He is currently responsible for managing Man Group's four investment units: Man AHL, Man GLG, Man Numeric and Man FRM.
Prior to this, Ellis was head and CIO of Man Group's multi-manager business and non-executive chairman of GLG's multi-manager activities. He was managing director of FRM and ran the business from 1998 to 2008.
Before joining FRM, he was a managing director at JPMorgan and global head of equity derivatives and equity proprietary trading.
Jonathan Sorrell will continue as president of Man Group alongside his role as chief financial officer.
Meanwhile Roman, who has held the CEO role at Man Group since February 2013, will step down from the firm's board on 31 August and take up his new position of CEO at PIMCO from 1 November.
He has nearly three decades of experience in the investment industry, becoming co-chief executive officer at GLG Partners in 2005 and chief operating officer of Man Group in 2010 following the firm's acquisition of GLG.
Prior to this, he worked for Goldman Sachs for 18 years where he was co-head of worldwide global securities and co-head of the European Services Division.
PIMCO's current CEO Douglas Hodge will assume a new role as managing director and senior adviser when Roman joins the group.
The group said Roman will help drive PIMCO's evolution as a provider of investment solutions built on the firm's active management expertise in areas such as core bonds, non-traditional strategies, private credit, distressed debt, equities and real estate. He will be based in PIMCO's headquarters in Newport Beach, California.
Roman said: "It is an honor to be chosen as CEO of PIMCO, a firm which embodies the finest principles of asset management - innovative investment strategies, excellent client service and a deep bench of global talent - which have consistently delivered value to clients over the long-term.
"I look forward to working with the firm's talented team to continue to build on PIMCO's success in what is a rapidly changing industry."
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