Robyn Grew, the trusted insider to steer Man Group hedge fund


Abstract Firms 14 yr insider with years on senior govt committee

Analysts look ahead to any attainable adjustments in technique

Turns into one of the vital highly effective girls in fund administration

LONDON, Could 11 (Reuters) – There are few jobs Robyn Grew has not mastered on the $145 billion hedge fund Man Group (EMG.L), the place cash retains rolling in to a fast-growing enterprise she helped to rework.

Grew, named incoming CEO on Thursday, has held govt positions in compliance, buying and selling, authorized and operations over 14 years, as Man has advanced from a disparate group of siloed companies to an enormous, technology-driven funding supervisor.

As she turns into one of the vital highly effective girls in fund administration, Grew should apply her insights to a number of challenges from mounting competitors, increasing laws and heightening geopolitical rigidity.

“There aren’t many individuals who’ve lined as broad a variety of actions as she has. She is aware of the enterprise inside out,” stated Jonathan Sorrell, president at New York-based $10 billion Capstone, who labored alongside Grew at Man and beforehand held her present job as president.

“She’ll be comfy making the large calls which are required,” he instructed Reuters.

The London-listed agency shall be led by two girls for the primary time in its 240-year historical past by the top of 2023, after long-standing CEO Luke Ellis retires in September and Anne Wade replaces veteran banker John Cryan as chair.

Grew confirmed her mettle alongside CEO Luke Ellis and predecessor Emmanuel (Manny) Roman in executing a decade of repositioning and progress for the hedge fund, stated Dev Sanyal, CEO of Varo Vitality, and former Man non-executive director.

That achievement, he stated, would possibly imply solely tweaks are wanted.

“There is a nimble agility to the corporate at the moment and it is not in want of huge change. Robyn has been an ally of Manny and Luke in creating the success of the corporate,” stated Sanyal.

Roman doubled the dimensions of Man’s govt committee when he took over from Peter Clarke as CEO in 2013. That committee oversaw a revival plan to recoup falling belongings and reverse poor inventory efficiency.

Sanyal credited Grew, a member of the management group on the time, for subsequently championing the hedge fund’s options enterprise, the place shoppers got alternatives to pick out funding bets and methods higher suited to their wants quite than investing in a one-size-fits-all portfolio.

The enterprise helped Man flip the tide on years of years of erratic internet inflows. Man Group now has over 60% of its belongings working this manner.

Grew additionally improved the agency’s compliance, he stated. “She has by no means taken a tick-the-box strategy. She helped folks actually perceive what was wanted. She took the time and really helped folks change into higher at their jobs,” he stated.

Underneath her steerage, Man executed an additional company overhaul in 2019, which simplified the corporate’s regulatory capital necessities and laid the foundations for larger funding in product innovation. She spearheaded its range programme and works with a number of industry-level initiatives.

“Finally, she is somebody you possibly can at all times rely on,” stated Sorrell.

Presently based mostly in New York, Grew will relocate to London by the point she takes up her function however Man has flagged that she is going to proceed to spend substantial time within the U.S., the place it’s centered on constructing its model to compete towards its rivals there.

Whereas some would possibly view the transatlantic management plan as a slight on London’s hedge fund scene, others have been extra optimistic concerning the function Grew might play in advocating for UK funds within the U.S., the place billionaire managers like Bridgewater founder Ray Dalio and Pershing Sq. boss Invoice Ackman are family names.

One senior hedge fund supply instructed Reuters her appointment would possibly assist the UK asset administration {industry} change into extra seen to U.S. buyers, seeking to Europe and Asia far more because the greenback weakens.

“Any CEO of Man Group will spend an honest quantity of their time within the States as it’s the place nearly all of the consumer capital comes from and the place numerous the cash is invested from,” stated Capstone’s Sorrell.

Grew lives in New York along with her spouse, son and “energetic cockapoo,” it says on Man’s web site. However she grew up in Essex, to the east of the UK capital, the place she attended a grammar college earlier than studying enterprise regulation at Coventry College.

Shifting to finance, Grew held senior compliance roles at Lehman Brothers, Barclays Capital and later labored at LIFFE, the futures alternate subsequently named ICE Futures Europe.

She joined Man GLG in 2009 as its chief compliance officer however moved on to work as international head of authorized and compliance, chief working officer, basic counsel, group COO and head of ESG and presently works as its president. She’ll take up the function of CEO on September 1.

“Effectively, what a day,” stated Grew in a LinkedIn video publish.

Reporting by Nell Mackenzie and Sinead Cruise; enhancing by Elisa Martinuzzi and David Gregorio

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