A spectacular 34% gain for Man Group’s $4.7 billion flagship AHL Diversified fund in 2014, following years of lacklustre returns, has generated a 125% rise in Man’s share price and fired up Manny Roman’s enthusiasm for expansion.

Roman took over in 2012 as chief executive of Man, the majority of whose assets comprise hedge fund strategies. Ever since, he has been on the hunt for new talent and pulled off six acquisitions comprising niche funds of hedge funds and long-only firms at bargain-basement prices. They have lifted Man's assets under management to nearly $75 billion.