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MOVES-Man Group appoints Michael Turner as CEO of FRM unit

Reuters - UK Focus

LONDON, Sept 26 (Reuters) - British asset manager Man Group (LSE: EMG.L - news) said on Tuesday it had appointed Michael Turner as chief executive of its FRM unit, which specialises in investing in hedge funds.

Turner will be replaced as chief operating officer at FRM, a role he has held since 2012, by his deputy, Rachel Waters, Man (Swiss: MAN.SW - news) said in a statement.

Prior to joining FRM in 2007, Turner was head of research at Aspect Capital and a quantitative research analyst at Schroder Salomon Smith Barney, the statement said.

Following the promotion, Turner will join the group's executive committee.

FRM, which provides a range of investment and advisory services, was founded in 1991 and bought by Man Group in 2012. At end-June, it managed $16.2 billion in assets out of Man Group's total assets of $95.9 billion. (Reporting by Simon Jessop; editing by Carolyn Cohn)