Jonathan E. Sorrell was appointed president of specialist volatility manager Capstone Investment Advisors, effective January 2020.
Mr. Sorrell will be based in Capstone's London office and will lead strategic initiatives and business development, said a Capstone client letter from Paul M. Britton, Capstone's founder and CEO, that was obtained by Pensions & Investments.
Mr. Sorrell will replace New York-based Joseph J. Lucas, who held the positions of president and chief operating officer until October this year. Richard R. Hanna assumed the role of COO in October. Mr. Lucas will remain president until January when Mr. Sorrell joins the firm. He will become chairman before retiring at the end of 2020, the client letter showed.
Mr. Sorrell was president and executive director of Man Group until his departure in September. Mr. Hanna was COO of Man Investments America.
Messrs. Sorrell and Hanna will not be replaced, said a Man Group spokeswoman, in an email.
Capstone Investment Advisors manages $6 billion in volatility-focused investment strategies.