Fred Siegrist is stepping down as Chief Executive Officer (CEO) of RMF Investment Management. Herbert Item will succeed Siegrist, who is retiring on 30 September 2007. Fred Siegrist is stepping down as Chief Executive Officer (CEO) of RMF Investment Management. Herbert Item will succeed Siegrist, who is retiring on 30 September 2007.

Item will also continue as the firm's Chief Investment Officer (CIO), a position he has held since 2005. He will also join the Man Investments Management Committee.

In addition, Serge Cadelli is promoted to the dual role of Chief Operating Officer (COO) and Chief Risk Officer (CRO). He has been COO for almost two years and, from 1 October, also assumes the former responsibilities of Pierre-Yves Moix who moves to Man Investments as Chief Risk Officer. Cadelli and Item will continue to work closely together with the RMF Management Committee which consists of eight members:

Herbert Item, CEO/CIO
Serge Cadelli, COO/CRO
Jaime Castan, Head of Hedge Fund Research
Stefan Scholz, Head of Quantitative Analysis
Reto Grau, Head of Portfolio Management
Sven Lidén, Head of Business Development
Adrian Gmuer, Business Head Asia
John Angell, Business Head UK

Under Siegrist's leadership, assets under management at RMF grew from USD 14 billion to about USD 25 billion.