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Man Group appoints former Deutsche Bank CEO as new chairman

John Cryan, who headed the German bank from 2016 to 2018, will take up his new role at the hedge fund group on 1 January

Man Group - Man Group appoints former Deutsche Bank CEO as new chairman

Man Group PLC (LON:EMG) has appointed one of its independent non-executive directors, and former Deutsche Bank chief executive, John Cryan, as its new chairman.

Cryan, who headed the German bank from 2016 to 2018, will take the role on 1 January 2020, replacing outgoing chairman Ian Livingston who will step down on 31 December.

Livingston said the decision to step down after almost four years at the hedge fund group was a “personal decision and the right timing for the company”, with chief executive Luke Ellis adding that the strategy of the firm would remain “unchanged” despite the boardroom reshuffle.

“We are delighted that John will be taking on the role of chairman. He has already been a great contributor on the board and I look forward to continuing to draw on his extensive experience of the global financial services industry in the years to come", Ellis said.

In early trading on Monday, shares in Man Group were 1.6% lower at 162.7p.

Quick facts: Man Group

Price: 152.15 GBX

LSE:EMG
Market: LSE
Market Cap: £2.33 billion
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