Family Office
Man Investments' CEO departs
Chambers steps down; Morrison moves up. Man Investments CEO and
Man Group director Chris Chambers is calling it quits. He’ll be
out of those slots by Wednesday, though Man Group says he’ll
stick around in an undefined capacity during “a period of
handover.”
Man Group won’t say why Chambers is leaving. In a 25 August press
release Man Group CEO Stanley Fink merely thanks him “for his
contribution to the business” and wishes him “well in the
future.”
Chambers will be replaced as CEO of London-based Man Group’s
hedge-fund unit by John Morrison, Man Investment’s head of
marketing and client services. Morrison has been with Man for
nearly 20 years. Fink calls him “a seasoned business leader” and
says he’s “ done an outstanding job positioning Man Investments
as a leading provider of alternative investments in the
Asia-Pacific region.”
Chambers became CEO of Man Investments in March 2002 and joined
Man Group’s board in August 2003. He came to Man from Credit
Suisse First Boston, where he was co-head of European equity
capital markets.
As head of Man Investments, Chambers was one of the highest-paid
corporate officials in the U.K. In 2004 he got a base salary of
$558,000, a bonus of $3.24 million and benefits worth over
$108,000, according to the DailyTelegraph
newspaper.
Man Investments had $43 billion in funds under management at the
end of March 2005. The unit consists of Man Investments’ Core
Managers, AHL, Glenwood, Man Global Strategies and RMF. –FWR
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