Man Group chairman Ian Livingston to step down

Hedge fund Man Group said on Monday that chairman Ian Livingston will step down at the end of the year, to be succeeded by former Deutsche Bank chief executive officer John Cryan.

Cryan, who is currently the chairman of XCyber Group, will take on the role from 1 January 2020. Currently a non-executive director of Man Group, he was CEO of Deutsche Bank from July 2016 to April 2018. Prior to this, Cryan held a number of senior roles at UBS in a career spanning more than 25 years with the banking group, during which he served as chief financial officer and chairman and CEO of UBS AG EMEA.

Man Group CEO Luke Ellis said: "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 chairman. 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."