LONDON Man Group has hired hedge fund industry veteran John Rohal to head up its North America business, as the embattled fund firm tries to beef up its presence in the world's biggest hedge fund market.
Man, whose shares have fallen by around 75 percent since the start of last year on the back of client outflows and poor performance from its flagship fund, said Rohal would be executive chairman of Man, North America.
Rohal, who is currently on the investment committee of California-based Makena Capital, will aim to build relationships with U.S. institutions and foundations, which have been behind many of the investor inflows into the $2 trillion industry in recent years.
Man (EMG.L) manages $60 billion but has more of a presence in Asia and Europe. In the first half of the year Man attracted $700 million of inflows from the U.S.
(Reporting by Laurence Fletcher; editing by Keiron Henderson)