I’m your Man

Man Group’s agreement to buy Refco’s futures broking unit, subject to court approval, is a real coup for the UK-listed hedge fund provider. The soaraway success of Refco’s flotation this summer prompted much jealousy in the corridors of Man’s own futures-broking subsidiary, Man Financial. It seemed to confirm suspicions that investors were overlooking the true value of the broking business and focusing too much on Man’s core hedge fund operation. The solution, some staff thought, was to spin it ...