Man Group CEO Peter Clarke to step down

Mon Dec 10, 2012 9:40am EST

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(Reuters) - Hedge fund Man Group said Chief Executive Peter Clarke will retire in February and will be replaced by Chief Operating Officer Emmanuel Roman.

Clarke, who has been in the top job at Man since 2007, has been under growing pressure over the past two years.

Despite repeated attempts to restore investor confidence, the London-based former FTSE 100 company suffered a fifth straight month of client exits in October after poor returns from its flagship AHL fund, while its share price has halved since late last year.

(Reporting by Karen Rebelo in Bangalore; Editing by Supriya Kurane)

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