Texas ERS Hedge Fund Chief Exits

Robert Lee will join Texas Tech University System as deputy CIO in October.

Robert Lee Art by Steve WacksmanThe Employees Retirement System of Texas’ (ERS) director of investments is leaving for an endowment, CIO has learned.

Robert Lee will join Texas Tech University System as deputy CIO come October, working as Associate Vice Chancellor and CIO Tim Barrett’s right-hand man.

Lee—who was named on the Forty Under Forty and Power 100 lists—has been at the $26 billion pension fund for five years, largely overseeing the hedge fund, liquid alternatives, and hybrid allocations.

He also implemented ERS’ new hedge fund program since 2011, which has grown to include a variety of portfolios across traditional and nontraditional asset classes.

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Since joining the Austin, Texas-based pension plan, Lee has been active in a number of organizations bridging the hedge fund industry with allocators. He is an investor advisory board member of the Alternative Investments Forum, and a member of the board of directors of the Texas Hedge Fund Association and the Alignment of Interest Association.

Prior to his role at ERS, Lee worked as the associate director of portfolio management for HFR Asset Management and Riverside Portfolio Management (an HFR spinout). He began his career as a hedge fund analyst at Switzerland-based 47 Degrees North Capital Management.

Lee holds a bachelor’s degree in mathematics and economics from Texas State University and a master’s degree in economics from the University of Konstanz in Germany.

Home > News > Newsmakers > Man Group Restructures Following CEO Exit

Newsmakers September 2, 2016

Man Group Restructures Following CEO Exit

Sandy Rattray is the hedge fund giant’s new CIO as part of a raft of senior management changes.

Man Group has reshuffled a number of senior management roles in the wake of the departure of CEO Manny Roman.

Sandy Rattray has been named CIO of Man Group, the company said in a statement. He is currently CEO of AHL, Man Group’s quantitative strategies business, and will retain this role. He has also led Man Systematic Strategies as CIO, and worked in the group’s GLG subsidiary from 2007. Previously at Goldman Sachs for 15 years, Rattray is a co-inventor of the Vix index.

Jonathan Sorrell, currently president and CFO, is to give up the latter role and take on more responsibilities including corporate strategy, sales, and mergers and acquisitions. Mark Jones, currently co-CEO, will become CFO, with Luke Ellis becoming the sole CEO.

Ellis said it was a “natural time” to restructure the management team, following Roman’s appointment as CEO of PIMCO in July. Roman starts his new role on November 1.

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“Man Group has changed a great deal in the past few years,” said Ellis. “With my own role also changing, it made sense to look at the way we are organized and where different responsibilities should lie, so that we have the optimal structure in place to serve our clients and assist me in leading the firm through the next phase of development.”

Ellis added that “very little will change and we will continue in a ‘business-as-usual’ manner as the changes are implemented as seamlessly as possible.”

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