Sandy Rattray to head up Man Group's flagship fund Hedge fund manager Man Group has appointed a new head for its flagship $16.3 billion (£10.5bn) fund as part of sweeping changes under incoming chief executive Manny Roman to revive investment performance and win back clients. Under the reshuffle, Sandy Rattray, the head of Man Systematic Strategies (MSS), will become chief executive of the group's $16.3bn computer-driven AHL fund, reporting to executive chairman Tim Wong. Rattray spent 14 years at Goldman Sachs before joining GLG Partners, which was later bought by Man, in 2007. A Man spokesman said both he and Wong will sit on the group's enlarged executive committee. AHL, which saw its assets under management fall to $16.3bn in the third quarter of 2012, from $16.7bn the previous quarter, will be merged with MSS. The shake-up is the most significant change yet announced by chief operating officer Roman, who will take over from current Man chief executive Peter Clarke at the end of next week. Luke Ellis, who heads Man's fund-of-funds unit FRM, has become president of the group, overseeing all three divisions - AHL, FRM, and GLG Partners. Roman joined Man in 2010 when the group bought GLG, the hedge fund where he was chief executive. The deal was designed to try to boost assets and diversify away from AHL, but the fund still accounts for 70 per cent of Man's profits. Man, which had $60bn under management as of 30 September, is due to report its full-year results at the end of this month.