HFSB Appoints Luke Ellis of Man Group and Henry Kenner of Arrowgrass to the Board
The appointments of Messrs. Ellis and Kenner to the HFSB board occur during a time when the HFSB is seeing global growth in the managers and institutional investors supporting the Hedge Fund Standards. In 2016, 19 additional managers became signatories to the Standards. Also in 2016, six additional institutional investors overseeing $220 billion in capital joined the HFSB Investor Chapter.
The HFSB also announced that it is forming a working group on liquid alternatives. Given the growth in regulated alternative investment funds in the marketplace and among many of the HFSB signatories, the HFSB intends to explore standards of good practice applicable to liquid alternatives, against the backdrop of existing regulations and the Hedge Fund Standards.
Dame Amelia Fawcett, Chair of the HFSB, said: “We are thrilled to welcome Luke and Henry to the Board and appreciate their willingness to serve as Trustees. The HFSB will benefit greatly from their global expertise and perspectives as leading managers. Today the Board has representatives from major investors and managers from the US, Canada, the UK, Hong Kong, Singapore and Australia, providing the HFSB with strong resources to understand and establish good practices in an increasingly diverse alternative investment industry.”
Luke Ellis said: “As one of the Founders of the HFSB, Man Group is delighted to be at the forefront of the effort to strengthen our industry and increase the value we bring to investors. The HFSB has a unique role as a platform for bringing the industry together to solve issues and I look forward to working with the Board on standards and guidance, particularly in areas which represent an expansion of focus, such as liquid alternatives.”
Henry Kenner said: “Arrowgrass is a Core Supporter of the HFSB because we believe we have an obligation not only to build an institutional quality business, but also to contribute to the creation of an institutional quality industry. The HFSB is in a strong position to achieve that objective because of its ability to promote global collaboration between investors, managers and regulators. I’m pleased to join the Board and contribute to this process and the HFSB’s mission.”
Luke Ellis is CEO of Man Group plc (“Man”) based in London. Luke was previously President of Man, having joined the firm in 2010, and had been a member of the Executive Committee. Before joining Man, he was Non-Executive Chairman of GLG’s Multi-Manager activities. Prior to this, he was Managing Director of FRM from 1998 to 2008 and one of two partners running the business. Before joining FRM, he was a Managing Director at JPMorgan in London, and as Global Head was responsible for building the firm’s Global Equity Derivatives and Equity Proprietary trading business. Mr. Ellis holds a BSc (Hons) in Mathematics and Economics from Bristol University.
Henry Kenner is a Founding Partner & CEO of Arrowgrass Capital Partners LLP. Prior to founding Arrowgrass, Mr. Kenner served as a Managing Director at Deutsche Bank where he worked latterly in the Proprietary Trading Team having previously been a member of the convertible bond trading team. He has also worked as a Managing Director at Swiss Re Capital Management and was previously Managing Director and Co-Head of equity derivatives at ABN Amro.