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American Focus > Blog > Economy > Hedge Fund Man Group Cuts Jobs, Elevates Greg Bond to New CIO Role
Economy

Hedge Fund Man Group Cuts Jobs, Elevates Greg Bond to New CIO Role

Last updated: July 18, 2025 7:45 pm
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Hedge Fund Man Group Cuts Jobs, Elevates Greg Bond to New CIO Role
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Man Group Plc, the world’s biggest publicly listed hedge fund firm, has announced a second round of job cuts and leadership reshuffling under the leadership of CEO Robyn Grew. The London-based company made these changes as part of an ongoing overhaul to streamline its operations.

In a memo sent to staff on Thursday, Man Group revealed that Greg Bond, who previously served as the chief executive officer of Man Numeric and head of Americas, will now take on the role of chief investment officer for the entire group in a newly created position. Grew acknowledged that the firm had to make tough decisions, resulting in some redundancies in recent days.

A spokesperson for Man Group, which manages $167 billion as of April 14, stated that a review of the business led to the redeployment of some employees and a small reduction in the global headcount. However, the exact number of roles eliminated was not disclosed. As of December 31, the company had 1,777 employees, according to its annual report.

Grew, the first female CEO in the company’s 242-year history, has been restructuring Man Group since taking over in September 2023. Last year, she merged discretionary trading units and discontinued three house brands, leading to the departure of a top executive. Eric Burl, the head of discretionary, is also leaving the company after more than two decades to explore opportunities outside of finance.

Man Group has been at the forefront of investing in cutting-edge artificial intelligence, with its quant equity unit utilizing AI tools to generate trading ideas, develop strategies, and test them on historical data. Grew expressed excitement about the potential for AI to revolutionize the firm’s operations.

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The planned job cuts come at a time when some of Man Group’s funds have reported mixed returns. The first half of the year was marked by market volatility and uncertainty, impacting the performance of trend-following strategies. Grew emphasized the importance of streamlining the business to continue investing where necessary.

In addition to these changes, other senior management adjustments include Steven Desmyter overseeing the discretionary division, Russell Korgaonkar taking on the role of head of systematic, and Dan Taylor becoming deputy head of systematic. Michael Kasper will serve as chief operating officer and head of systematic strategy, while Antoine Forterre will be the CFO and COO, overseeing various functions within the firm.

Chief Operating Officer Doug Hamilton will be leaving the company to pursue opportunities in Boston, his hometown. Grew and Forterre will host a town hall on July 30 to address any questions from staff.

Founded in 1783 as a barrel maker-cum-brokerage, Man Group has evolved over the centuries to focus exclusively on financial services. The company’s acquisitions of computer-driven trading shops like AHL and Numeric have become key components of its offerings.

Overall, the restructuring efforts at Man Group reflect a commitment to adapt to changing market conditions and position the firm for future growth and success.

TAGGED:BondCIOcutsElevatesfundGregGrouphedgeJobsmanrole
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