Robyn Grew will be taking over as the CEO of Man Group, the largest publicly listed hedge fund. She is going to be the first female CEO of the firm in 240 years. Read to know more.
Meet Robyn Grew, man Group Plc’s first female CEO
Man Group appointed its first-ever female CEO in the 240 years of its existence. Robyn Grew aged 54 will be taking over from Luke Ellis on September 1. The 60-year-old is stepping down from the post. Ellis took over the role in 2016 and helped in strengthening and transforming the company. As per a statement released on Thursday, Grew joined in 2009 and is currently serving as the Plc’s president. While she is going to be moving to the UK for the new position, she will continue to spend a proportion of her time in the US. The move follows their move of appointing Anne Wade as its first female chairperson, replacing John Cryan. Cryan will be retiring from the role towards the end of the year.
Why is this significant?
Women make up merely 21.3 percent of all employees in hedge funds and investment firms across the world. As per a Prequin report released in March, women are in 13.6 percent of senior roles and 10.3 percent of board roles. While there is some progress in certain aspects of the sector, there is a need and demand for more.
Man Group, was founded in 1783 by James Man in London. It began as a barrel maker-cum-brokerage agency and supplied run to the Royal Navy. Additionally, they also traded coffee and sugar before shifting their focus exclusively to finance. In recent months, the Man Group has been defying an outflow trend and attracting clients through a range of funds.
