Global alternative investment management firm Man Group, the world's largest listed hedge fund firm, has appointed Lee Matthews as Managing Director, Head of Retail Sales for the UK, replacing Richard Phillips, who is retiring after 27 years with the firm.

Phillips worked at Société Générale Asset Management to its acquisition by GLG, which was later acquired by Man Group in 2010.

Lee joins Man Group from AllianceBernstein where he spent seven years as Head of Retail for the UK and Ireland. He previously worked at Aberdeen Standard Investments, where he was Senior Business Development Manager – Discretionary.

Earlier in his career Lee held distribution roles at Liontrust Asset Management, Scottish Widows Investment Partnership and JP Morgan Asset Management.