as lse emg industry financial services founded 1783 founder james man headquarters riverbank house 2 swan lane london united kingdom area served worldwide key people lord ian livingston chairman luke ellis group ceo jonathan sorrell president pierre lagrange chairman man group asia & md glg products investment products revenue us 1.135 billion 2015 1 operating income us 184 million 2015 1 net income us 171 million 2015 1 number of employees 1.078 march 2015 divisions man ahl man glg man numeric investors man frm website man.com man group plc man group is an alternative investment management business initially founded as a sugar cooperage and brokerage by james man in 1783 . it provides a range of funds for institutional and private investors globally and is the world s largest publicly traded hedge fund reporting 78.1 billion in funds under management as of march 2015 . 2 3 the firm is headquartered at riverbank house in london and employs over 1 000 people in various locations worldwide . 4 the company is a noted sponsor of the arts and charitable initiatives including the man booker prize and the man charitable trust . under ceo emmanuel manny roman the firm has made several acquisitions as part of its strategy to diversify the business particularly in the united states including man numeric a quantitative equity manager . in recent years the firm has seen a shift towards institutional clients . contents 1 history 2 structure and operations 2.1 man ahl 2.2 man frm 2.3 man glg 2.4 man numeric 3 strategy 3.1 mergers and acquisitions 4 rmf and bernard madoff 5 man booker prize 6 corporate responsibility 6.1 man charitable trust 6.2 oxford man institute of quantitative finance 6.3 former sponsorships and charitable initiatives 7 see also 8 references 9 further reading 10 external links history edit the company was founded by james man in 1783 as a sugar cooperage and brokerage based in harp lane in billingsgate . the following year man group won the contract to supply the royal navy with the rum for its daily rum tot a tradition under which all sailors were allocated a daily rum ration . this tradition continued until 1970 with man group holding the contract throughout the entire period . 5 the company further expanded from sugar and rum into other commodities such as coffee and cocoa . the company traded as a commodities business throughout the 19th and 20th century gradually diversifying into financial services following the advent of financial exchanges to hedge commodity exposures . 5 the firm was renamed ed & f man in 1869 based on the initials of james man s grandsons edward desborough man and fredrick man . ed & f man listed on the london stock exchange in 1994 . in 2000 the company divided into two entirely separate businesses with man group plc focusing exclusively on financial services and ed & f man the commodities division being taken private in a management buy out . 6 in 2007 following the demerger and flotation of its brokerage business known as mf global on the new york stock exchange man group moved into its present form as an investment management business . 7 man group attained its current structure over time through acquisition . man ahl is the oldest investment manager of the group having been acquired over time from 1989 to 1994 . man group s other investment managers were acquired between 2010 and 2012 . man group acquired man glg previously glg partners in 2010 for 1.6 billion 8 then man frm in 2012 9 and man numeric in 2014 . 10 structure and operations edit man group head office at swan lane in london building in the background man group offers hedge fund and long only products spanning equity credit managed futures convertibles emerging markets and multi manager solutions . the firm has key operational centres in australia china guernsey hong kong japan liechtenstein switzerland united arab emirates uk usa and uruguay . the firm operates through four investment managers man ahl ; man frm ; man glg and man numeric . man ahl edit founded in 1987 man ahl is a diversified quantitative investment manager offering absolute return and long only funds with both momentum and non momentum strategies . in recent years the manager s sales have shifted from retail to institutional investors . man ahl has over 100 investment professionals . 11 man frm edit established in 1991 and acquired by man group in 2012 man frm s 58 research and investment professionals operate from london new york tokyo guernsey and pf ffikon . 12 man glg edit man glg was established in london in 1995 as glg partners . it was publicly listed in 2007 before being acquired by man group in 2010 for 1.6 billion . man glg is a multi team discretionary investment manager . man glg utilises absolute return and long only strategies across asset classes sectors and geographies . the january 2015 acquisition of silvermine was expected boost the division s us clo business . 13 man numeric edit man numeric was established in 1989 and acquired by man group in 2014 . a boston based quantitative asset manager with 16.7 billion fum as at december 2014 man numeric offers long only active extension and hedged equity strategies . man group acquired man numeric to build a diversified quantitative fund management business in non momentum strategies and to develop man group s presence in the north american market . in 2014 man numeric s average client portfolio out performed industry benchmarks by 3 % before fees . 14 strategy edit manny roman was appointed as man group s ceo in 2013 . his stated strategic objectives for man group include delivering superior risk adjusted returns for clients 15 diversifying the firm through acquisition extending us operations growing man group s quantitative investment business hiring and retaining talent and capitalising on the convergence between business in the developed and developing world . 16 since taking up the role of ceo roman has overseen significant cost cutting at man group led by co president jonathan sorrell with a 270 million cost saving programme planned for delivery in 2015 achieved ahead of schedule . 17 18 19 mergers and acquisitions edit table of man group mergers and acquisitions date ahl 20 1989 94 glenwood capital investment llc glenwood global management llc and remaining 40 % stake in man glenwood gmbhgroup 21 nov 2000 ord minnett strategic investments 22 dec 2000 rmf investment group 23 may 2002 bluecrest capital management ltd minority stake sold in 2011 24 25 dec 2003 pemba credit advisers an asset manager specialising in european credit portfolios 26 april 2007 50 % interest in ore hill partners llc a provider of investment management services . concurrently ore hill agreed to acquire a 50 % stake in pemba credit advisers ltd from man group 27 mar 2008 man eco specialising in financing environmentally related projects man environmental capital opportunities 28 april 2008 nephila capital ltd 29 june 2008 glg partners 8 may 2010 frm holdings 9 30 july 2012 pine grove asset management 31 aug 2014 numeric holdings 10 sept 2014 fund of funds assets from merrill lynch alternative investments 32 33 may 2015 silvermine capital management 33 34 jan 2015 newsmith llp s investment management operations 33 35 may 2015 rmf and bernard madoff edit rmf a former division of man group invested 0.5 % of its funds under management at the time with various 3rd party funds which in turn had positions in funds ultimately managed by bernard madoff . rmf was one of 107 financial institutions and 13 000 individuals to invest in such funds . as of 2014 59 % of all such funds have been recovered and returned to various institutions and individuals . 36 man booker prize edit man group has sponsored the man booker literary prize since 2002 . 37 described by the telegraph newspaper as ... arguably the uk s most prestigious literary prize the 50 000 award was created in 1973 to increase the reading of quality fiction and attract the intelligent general audience . 38 39 each year the winner is announced at an awards dinner broadcast live by bbc television . inclusion into the award s shortlist and attendant press coverage is known to provide a significant boost to book sales and bookstore visits with sales trebling in some cases . 40 the 2014 award went to author richard flanagan for the narrow road to the deep north with his prize presented by chair of judges ac grayling at london s guildhall . it was the first year in which eligibility for the award was expanded to include any novel written in english and published in the uk . 41 man also sponsors the man booker international prize . this 60 000 prize is awarded every two years to a living author with fiction published in english or translated into english . the award is intended to highlight ... one writer s overall contribution to fiction on the world stage with the judges considering a writer s entire body of work . the 2015 prize was awarded to hungarian writer l szl krasznahorkai . previous winners include philip roth and lydia davis . 39 corporate responsibility edit man group is a member of the ftse4good index and the dow jones sustainability world index . it also supports various charitable initiatives principally through the man charitable trust . man charitable trust edit set up in 1978 the man charitable trust is an independent registered charity that funds small to medium size charities focusing on literacy and numeracy programmes as well as programmes in support of access to education for disadvantaged people . in 2014 the trust awarded 427 075 to uk charities including 50 000 to beanstalk a charity that recruits and trains volunteers to provide reading support in primary schools and 50 000 to national numeracy a charity dedicated to raising low levels of numeracy among adults and children . 42 43 oxford man institute of quantitative finance edit in june 2007 man launched a joint project with the university of oxford the oxford man institute of quantitative finance . man group s initial financial commitment to the institute was 13.75 million one of the largest single donations to a british higher education institution in recent years . 44 the institute brings together faculty post docs and students throughout the university interested in quantitative analysis of finance problems . the institute aims to develop research in quantitative finance develop academics able to contribute to the understanding of quantitative finance and to promote and encourage independent teaching and research . man ahl has researchers embedded within the institute ; research topics include socially responsible finance and the stability of market systems . 45 former sponsorships and charitable initiatives edit man group is a former sponsor of the man group international climate change award and the man asian literary prize . 46 47 in the 1990s man was a founding member of the east london partnership which became the east london business alliance a business community outreach charity promoting corporate social responsibility and employee volunteering . 48 see also edit companies portal hedge fund man booker prize man booker international prize list of investors in bernard l. madoff securities references edit a b c annual report 2015 pdf . man group . retrieved 9 april 2016 . company snapshot . alacrastore.com . retrieved 18 april 2011 . man group . london stock exchange . 7 october 1994 . retrieved 18 april 2011 . global 50 funds of hedge funds the hedgefund journal june 2009 . a b man group timeline pdf . retrieved 18 april 2011 . corigins . strauscom.com . retrieved 30 march 2015 . man group s mf global unit files for ipo reuters 1 june 2007 a b man agrees takeover of glg ft 17 may