Hedge fund firm Man Group shakes up GLG unit in bid to revamp fortune


LONDON — Man Group is shaking up its GLG unit in a move that will see two senior managers leave, as chief executive-designate Emmanuel Roman looks to reverse the hedge fund firm’s waning fortune.

The changes will see Karim Abdel-Motaal and Bart Turtleboom, who headed emerging market hedge funds at GLG, depart at the end of the month. GLG also said on Wednesday it has hired Kumaran Damodaran from bond giant PIMCO as a portfolio manager, and Brian Pinto, formerly of the World Bank, as senior macro-economist. Both will focus on emerging markets. Chief investment strategist Jamil Baz and Sudi Mariappa, who joined GLG in October from Pimco, will co-head GLG’s overall macro and fixed income business. GLG also said Richard Bateson joins from Man’s AHL unit as a senior quantitative analyst.