The chief executive of Man Investments, the fund management subsidiary of UK-listed hedge fund company Man Group, is to retire later this year, the company has told WealthBriefing.

The Australian-born Mr Morrison, 55, was appointed chief executive at Man Investments just under three years ago, taking over from Chris Chambers. A lawyer by training, Mr Morrison is due to retire from the post in June this year, a spokesman said.

Mr Morrison’s position will not be replaced. As a result of Man Group’s disposal of its brokerage arm, Man Financial, last year, managers at the company will now report directly to Man Group’s chief executive, Peter Clarke, the spokesman said.

Man Group, which has a history dating back more than 200 years, has become the world’s largest hedge fund management business with units such as RMF, Glenwood and AHL. It oversees a total of $75 billion of assets.