Ruud Hendriks, a non-executive director of Man Group, has been appointed as non-executive Chairman of the firm’s Institutional Department and will step down from the Board. Ruud’s change of role will be effective from 1 December, 2011.

Ruud has a lifetime’s experience in institutional sales, having previously been a Managing Director and Co-Head of Sales for Europe, Middle East and Africa at Goldman Sachs and Global Head of Institutional Sales for Robeco, a leading international asset manager. 
 
Jon Aisbitt (pictured), Chairman of Man, says: “While we are sorry to see Ruud step down from the Board, I am delighted that he has accepted this new advisory role. His extensive experience and relationships with institutional investors in Europe will bring significant value to Man and our clients.”