The Man Group will keep the recently acquired GLG Partners an arm’s length away at their former offices in Mayfair.It’s part of the deal that was written for the purchase, but Reuters’ look at the different cultures at the two hedge funds unfolds another story.
At Man, Peter Clarke runs the show. He’s sharp, pulled together and buttoned up. At GLG, three seemingly more chill co-CEOs are in charge.
The first is long-haired Pierre Lagrange, who in part funded the new independent superhero movie, Kick-arse.The second is Manny Roman, and the third is Noam Gottesman. (Gottesman and Lagrange have been at GLG since the beginning. They met co-founder Jonathan Green, who also founded the fund with them, at Goldman Sachs. Their three initials created the name, GLG.)
In a way, says the Reuters article, the joining of the two firms is an experiment in the war between man and machine.
Man is the machine because their strategies rely heavily on a ‘black box’ trading system called AHL.
GLG’s personality driven culture is apparent in their investment strategies, the hand-written notes they send clients rather than emails (even though they use one of those special notepads), and kind of in the way they openly share information (in chat rooms).It should be an interesting merger. The photos of the fund managers alone tell a story. Especially this old one of Lagrange.
Now check out another war between man and machine: day traders and floor traders vs HFT traders –>