Merville succeeds Massad at Man Investments, Middle East

This is going to take effect from 1 October.

Man was the first hedge fund provider to open a local office in the Middle East 22 years ago. Under the leadership of Mr Massad, Man has broken new ground and today enjoys clear leadership in the region.

Mr Merville joined Man three years ago as deputy regional CEO and head of institutional business. He succeeds Antoine Massad who has decided to retire after nearly 20 years' service with Man to pursue private interests.

Mr Clarke said the appointment was testament to Man's ability to attract the best talent in the industry.

"Patrick takes the reins of the leading alternative investment firm in the Middle East at a time when sophisticated private and institutional investors are, increasingly, seeking an alternative to the traditional investment classes,"

he said.

"For Patrick, this is as a step up in his long career in alternatives. Patrick's continuing goal will drive the business to new levels of success in the region on the back of Man's range of innovative products and the region's growing role in the global economy," he added.

Before joining Man, Mr Merville was a director at Merrill Lynch in London, where he spent six years, first as an institutional salesperson in emerging market equities and then in the hedge fund prime brokerage sales group. An experienced banker with exposure to hedge funds and alternative investments throughout his career he has also held roles at HSBC in New York as vice-president in institutional sales, emerging market equities, and at Credit Agricole where he was an associate in the private equity business.

Mr Merville holds a BA in Economics from the American University of Beirut and an MBA in Finance from Columbia Business School.

Mr Clarke paid tribute to Mr Massad as a pioneer of the industry in the Middle East.

"In the two decades of Tony Massad's work with Man, the alternative investments industry in the region has boomed from modest beginnings to become a major player in international terms" he said, "This is very much a result of Tony Massad's dedication to focusing on the opportunities in the region, his leadership of the Middle East office and the strong team we have developed there."