Man Investment Products plans to hire a derivatives savvy product engineer to develop investment products in the wake of increasing demand. David Browne, head of funding in London, said an increase in demand for guaranteed products and alternative investment products is largely responsible for its assets under-management increasing to USD8 billion from USD6.7 billion at year-end. Man structures guaranteed products in several ways including frequently using over-the-counter equity options and zero-coupon bonds, according to Browne.
Man Investment Products opened an office in the U.S. earlier this month and plans to market guaranteed products there. It is hiring the extra engineer now because it expects the U.S. marketing office to bring in new business, which will lead to increase in work volumes for the team. The engineer will join a team of approximately 10 professionals in London.