Live NH election results:
Business

Chief executive leaving Man Group

LONDON — Man Group, the world’s largest publicly traded hedge fund manager, said Monday that Peter Clarke would retire as chief executive at the end of February, after almost 20 years with the firm.

The company, which has recently struggled to stem an outflow of client money, has appointed its chief operating officer, Emmanuel Roman, to succeed Clarke. Clarke informed the board of his intention to retire, the company said in a statement.

Advertisement

Outflows rose almost 60 percent, to $2.2 billion, in the third quarter after Man’ Group’s flagship fund underperformed.

Sales remained weak as clients­ shied away from moving their money because of Europe’s debt crisis and uncertainty in the financial markets.

As a result, the company had been adding to its funds through acquisitions. It acquired FRM Holdings Group, a rival hedge fund investment manager, in May.

New York Times

Loading comments...
You're reading  1 of 5 free articles.
Get UNLIMITED access for only 99¢ per week Subscribe Now >
You're reading1 of 5 free articles.Keep scrolling to see more articles recomended for you Subscribe now
We hope you've enjoyed your 5 free articles.
Continue reading by subscribing to Globe.com for just 99¢.
 Already a member? Log in Home
Subscriber Log In

We hope you've enjoyed your 5 free articles'

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of BostonGlobe.com
Marketing image of BostonGlobe.com
Already a subscriber?
Your city. Your stories. Your Globe.
Yours FREE for two weeks.
Enjoy free unlimited access to Globe.com for the next two weeks.
Limited time only - No credit card required!
BostonGlobe.com complimentary digital access has been provided to you, without a subscription, for free starting today and ending in 14 days. After the free trial period, your free BostonGlobe.com digital access will stop immediately unless you sign up for BostonGlobe.com digital subscription. Current print and digital subscribers are not eligible for the free trial.
Thanks & Welcome to Globe.com
You now have unlimited access for the next two weeks.
BostonGlobe.com complimentary digital access has been provided to you, without a subscription, for free starting today and ending in 14 days. After the free trial period, your free BostonGlobe.com digital access will stop immediately unless you sign up for BostonGlobe.com digital subscription. Current print and digital subscribers are not eligible for the free trial.