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Ex-Deutsche CEO Cryan to become chairman of UK asset manager Man Group

Ian Livingston said he will step down as chairman of Man Group Ltd. at 2019-end after about four years in the role, citing personal reasons.

He will be replaced by John Cryan, who currently serves as a nonexecutive director of the British asset manager, effective Jan. 1, 2020.

Cryan, who served as CEO of Frankfurt-based Deutsche Bank AG from July 2015 before he was ousted in April 2018, is also the chairman of U.K.-based X Cyber Group Ltd..

Livingston's departure comes a week after Jonathan Sorrell resigned as Man Group's president.