Man Group president Robyn Grew has been chosen to succeed CEO Luke Ellis, who has announced that he will step down from the role later in the year.
Based in New York, Grew is a member of Man Group’s Senior Executive Governance Committee, and since joining in 2010 she has been COO, general counsel, chief administrative officer, and chief compliance officer.
She has also held senior positions at investment banks Barclays Capital and Lehman Brothers.
Grew will take over from Ellis as CEO on 1 September, at which point she will also join the firm’s board as an executive director. Until then, Ellis will continue as CEO and remain an executive director to ensure an “orderly transition”, the firm said.
Ellis joined Man Group in 2010 when it acquired Financial Risk Management, where he was a managing director. He secured the top job in July 2016.
Ellis was also a managing director at JP Morgan and global head of its equity derivatives and proprietary trading businesses.
Man Group chair John Cryan, who is retiring himself at the end of the year, said Ellis had been a “fantastic, visionary leader” and had overseen a period of “tremendous growth” at the firm.
He wished Ellis the best in retirement, and added: “Robyn is a dynamic, strategic leader with deep operational and commercial expertise, who knows the firm inside-out and is the perfect fit to take the firm on the next phase of its journey.”