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(Alliance News) - Man Group PLC said Monday it has promoted Independent Non-Executive Director John Cryan to chair, with effect from January 1, 2020.
He will replace Ian Livingston, who will step down at the FTSE 250 investment management firm after three years in the role since 2016.
Cryan has been part of Man Group's board for four years since 2015, and his most recent executive role was as chief executive officer at Deutsche Bank AG, for two years from 2016 to 2018.
"The strategy for the firm remains unchanged as we continue to strengthen and diversify our business to the benefit of our clients and shareholders. We are delighted that John will be taking on the role of chair. 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," said Chief Executive Officer Luke Ellis.
Shares in Man Group opened 1.2% lower at 163.35 pence on Monday in London.
