[ by Melanie Gretchen ] The Man Group, the world’s largest public hedge fund, has named a new finance director.  Jonathan Sorrell, who left Goldman Sachs last summer to join the hedge fund manager, distressed by weak performance and investor outflows.  He will replace Kevin Hayes, on his way out to pursue other interests. "In his new position, Jonathan’s experience in financial markets, especially his deep working knowledge of the hedge fund industry, will be extremely valuable as we continue to develop and evolve in challenging world markets.  He has a strong background in strategy and execution and will bring clear focus on costs and financial efficiency." -- Peter Clarke, Man Group’s CEO in a statement. Performance Report. To date, the hedge fund’s share price has not moved beyond a pound since May.  Despite speculation that the firm could be an acquisition target, the Man Group acquired a rival hedge fund, FRM Holdings. At Goldman, Mr. Sorrell ran a private equity fund in the firm’s asset management division. The fund, Petershill, bought stakes in established hedge funds, like Man rival Winton Capital, whose assets and returns have climbed.  In addition, it purchased stakes in hedge funds like Level Global, which didn't fare as well: it shut down following a raid by federal agents on suspicion of insider trading. [Dealbook, 6/18/12]