Man Investments, the asset management arm of UK-listed hedge fund manager Man Group, has promoted Uwe Eberle to the newly-created position of chief executive and president of Man Investments USA as of 1 January 2008. Mr Eberle, who has been chief executive of Man's institutional business since August 2006, will take over the firm’s private client business in the US and maintain his current responsibility leading its US institutional initiative. He succeeds John Kelly as head of the unit who has announced his retirement. Mr Kelly joined Man in 1987 to establish the firm's hedge fund business in the Middle East. He also helped expand the international regional network and developed joint ventures with global and regional banks in the Middle East, Asia and Europe. Mr Kelly will remain a consultant to Man Investments.