Finance Director leaves abruptly at Man

Kevin Hayes, Finance Director at under-fire hedge fund management outfit Man Group, has quit the firm.

Jonathan Sorrell, currently Man's Head of Strategy and Corporate Finance, is taking over as Finance Director with immediate effect.

Hayes, who joined Man Group as chief number cruncher in 2007, is leaving the group to pursue "other professional and personal interests," according to the company statement.

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Sorrell is a former Goldman Sachs man, where he worked in the Investment Management, Securities and Investment Banking Divisions, latterly leading investments in a broad range of hedge fund firms.

The value of Man's shares has declined by two-thirds over the last year.

JH