Man Group faces further writedowns over GLG deal - FT

LONDON Fri Dec 14, 2012 2:56am EST

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LONDON Dec 14 (Reuters) - Hedge fund firm Man Group is weighing significant writedowns next year relating to its 2010 acquisition of GLG Partners, the Financial Times reported on Friday.

It is likely that Man, which on Monday said Emmanuel Roman will replace Peter Clarke as chief executive, will have to take further impairments in February when it announces full-year results, the paper said, citing people at the company.

"It is reviewed twice yearly and no decision has been taken," said a Man spokesman. "The carrying value of GLG and other assets will be disclosed in the normal way with full-year results in February."


After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.