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Man Group CFO speaks on stewardship

Man Group chief financial officer Kevin Hayes tonight joins an exclusive gathering of FDs and CFOs to discuss the future trajectory of governance and stewardship demands on the finance community.

Kevin Hayes will join Financial Reporting Council chairman Baroness Hogg to discuss the challenges of creating a transparency business environment amid a barrage of regulation and guidance and an ever increasing demand on FDs for information. Hogg and Hayes will speak about how these issues feed into the future direction of risk management.

Hayes spoke about risk in an exclusive interview with Financial Director magazine. He left Lehman Brothers – where he had been CFO for Europe and Asia – 18 months before it imploded and later faced criticism in 2008 at Man Group when the business admitted a $360m exposure to the Madoff scandal through investments made by its fund-of-funds business, RMF, in “Madoff-related” funds. Despite a careful campaign of investor relations to explain where the failure in due diligence was, a number of Man’s clients simply cashed out. As group head of group risk, tax, treasury and technology, it was for him to fix.

Read his interview here

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