The group general counsel of Man Group Stephen Ross is to join Sidley Austin as co-head of London investment funds.
The move follows the promotion of Man Group’s head of legal Jasveer Singh to general counsel last month, following Ross’s departure from the FTSE250 group (26 March 2013).
Ross was formerly co-head of private equity funds at Clifford Chance along with Jason Glover, now of Simpson Thacher & Bartlett (8 September 2003), before he left for Man Group in January 2004. He started as global head of product structuring, financing and management, but by 2007 had become Man’s first general counsel.
It is not clear why Ross made the decision to leave Man Group, the world’s second largest hedge fund manager. His return to private practice sees him take up the role of co-head of Sidley’s London investment funds group alongside Bruce Gardner.
The handover between Ross and Singh took place before the end of 2012 and came amid the promotion of president and COO Emmanuel Roman to CEO to replace Peter Clarke, a move announced in December.
It also brought in Jonathan Sorrell, the son of WPP Group CEO Sir Martin Sorrell, as its finance director in mid-2012.
In March it emerged that the group would not pay bonuses to its top executives and was introducing a bonus cap set at 250 per cent of employees’ salaries.