Man Group appointed Robyn Grew as its next CEO after Luke Ellis announced his decision to retire later this year — a move that will see the $145 billion global alternatives giant led by two women for the first time.
Grew, who has been with the firm for 14 years, is currently Man Group president and a member of its senior executive committee, based in New York. During that time, she has managed the solutions business, and overseen trading and execution roles, having served as group chief operating officer, head of ESG, and general counsel.
Her appointment as CEO means Man Group will have an all-female leadership for the first time in its 240-year history, with Anne Wade set to replace John Cryan as Man Group chair towards the end of this year.
Grew — who will relocate to the U.K. for her new role, but still spend time in the U.S. — was chief compliance officer of discretionary hedge fund and long-only firm GLG Partners, now known as Man GLG, when it was acquired by Man Group in 2010. More recently, she oversaw the reorganization of Man Group’s corporate structure in 2019, and has also spearheaded the firm’s diversity program, Drive.
Before joining the firm in 2009, Grew held senior roles at Barclays Capital and Lehman Brothers as well as at LIFFE, the largest futures and options exchange in London, now known as ICE Futures Europe.
Grew said it is “an absolute honor” to be taking on the role of CEO.
“During more than a decade working at the firm, it has developed into a world leading, technologically brilliant, active investment firm with a fantastically collegiate culture,” she said in a statement. “Luke has been an incredible ally and mentor to me, and I am excited to be able to follow in his footsteps into this new role.”
Anne Wade, chair designate, said: “I am excited by Robyn’s vision and ambition for Man Group as a global, active investment firm, as well as her undeniable passion for creating a collaborative and diverse culture at the firm.”
Luke Ellis, who succeeded Emmanuel “Manny” Roman as Man Group CEO in September 2016, will remain in post and as an executive director of the company until September 1, to ensure an orderly transition and oversight of Man’s 2023 interim results.
Ellis said: “It has been a privilege to be CEO of Man Group and it is easy to want to stay on forever when you are leading such a great team of people. However, I feel that now is the right time to pass the reins to the next custodian of this firm and having worked with Robyn for well over a decade I could not be more thrilled at her appointment.”
Man Group chair John Cryan described Grew as a “dynamic, strategic leader with deep operational and commercial expertise”, adding she “knows the firm inside-out and is the perfect fit to take the firm on the next phase of its journey.”
Cryan added: “Luke has had a long and distinguished career in the City, leading several organizations before he landed at Man Group. He has been a fantastic, visionary leader, inspiring the firm to reposition itself for the future and working closely with his leadership team to oversee a period of tremendous growth.”