Horton, with more than 25 years’ broad financial services experience, has significant exposure to operating at board level, having served on the Board of Beazley - first as group finance director and currently as chief executive - since 2003. Before that, he held various financial positions within ING, NatWest and Lloyds bank.

In addition, Patrick O’Sullivan, who has served at Man Group as a non-executive director for six years, will step down from the board. O’Sullivan has made a substantial contribution to the board over that period, both as a previous chairman of the audit and risk committee and more recently as senior independent director. O’Sullivan will be succeeded in this latter role by Phillip Colebatch who has been a non-executive director for six years and chairman of the remuneration committee since 2008. Colebatch was previously a member of the executive boards of Swiss Re and Credit Suisse.

All of the Man Group board changes will take effect from 3 August 2013. 

Man Group manages $54.8 billon, as at 31 March 2013.