Man GLG strengthens Powe’s team with double hire
Man GLG, the discretionary investment management business of Man Group plc, has strengthened its European equities desk after hiring two analysts to work alongside portfolio manager Rory Powe.
Virginia Nordback and Ivan Rachev will join the business on 11th January, working with Powe on the Man GLG Continental European Growth Fund (“the Fund”), which he has managed since joining in 2014.
Nordback joins from Berenberg where she has spent the last two years as an equity research analyst with a focus on Scandinavian, German and Swiss companies. Prior to this she worked alongside Powe at Powe Capital, having started her analytical career with Deutsche Bank in 2003.
Meanwhile Rachev joins from Moelis & Company where he worked as an investment banking analyst with a focus on M&A.
Upon joining Man GLG their main role will be to assist in carrying out detailed company analysis, and supporting Rory in the management of the Fund.
The Fund has delivered 43.2% (net of fees) since Powe took over in October 2014. It is ranked number one in the IA Europe Excluding UK sector over this period, having delivered more than four times the sector average return of 10.6%.
Commenting on the hires, Powe said: “We are delighted to welcome both Virginia and Ivan to the European equities desk.
“Virginia’s thorough approach to stock specific research will reinforce the team’s knowledge of both existing and future holdings, while Ivan’s experience will be a particular asset to the team when it comes to researching new positions for the funds.”
Teun Johnston, Co-CEO of Man GLG, said: “Since joining the group Rory’s process has come into its own, with more and more investors impressed by the Fund’s returns.
“These hires will help Rory and the team continue to find the most attractive companies across Europe regardless of the macro environment.”