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• Introduction
• Leadership and Governance
• Future strategy

In our first dedicated Corporate Responsibility Report published in 2006, we set out our Corporate Responsibility strategy and how we proposed to pursue it. In this review we continue to report on our progress, how our programmes have developed each year, how we have performed against the targets we set for ourselves and outline our plans for further refinement and enhancement over the coming year.

Our strategy is clear that evidencing good, consistent business behaviour maintains and enhances our reputation and this, in turn, sustains the trust of our people and other key stakeholders. Reputation and trust lie at the heart of understanding the importance of Corporate Responsibility. This is captured by our definition of Corporate Responsibility:

"Responsible behaviour regarding all stakeholders which will continue to secure their trust in and commitment to our company – doing the right thing and ensuring we are doing so in a demonstrable and sustainable way."

Developments in 2009
2009 is proving to be a year of significant challenge for the financial services industry. Man is no exception. We are a people business and all our staff have shown outstanding and continued commitment during this difficult period. This has enabled us to accommodate the pace of change in our business necessary to position Man for the future as we address the changed investment environment and the needs of our investors in today's world.

In March we announced the intention to reduce our global headcount by 15% in order that our cost base reflected the reality of a reduction in funds under management and profitability.

During periods of significant change, our ability to be flexible in our investor servicing as a sustainable business is important to our reputation and to securing the trust of our stakeholders.

Over the past three years we have invested in creating a sophisticated Corporate Responsibility architecture, especially in terms of systematic data gathering, analysis and online reporting. This has been an important tool in allowing us to respond to the changed environment.

Focus, adaptability, scale
As we emerge from this period of change and our new integrated hedge fund management business gains traction, an important part of Corporate Responsibility's role will be to engage with and understand the work and life needs of our people at all levels in the organization so as to meet investor needs in a balanced and effective way.

It is important to have a programme which continues to address the core elements of Corporate Responsibility (people, marketplace, community and environment), and to ensure that the emphasis and scale of these elements is appropriate to our business and the evolving needs of our investors.

We have therefore reviewed the priorities of our Corporate Responsibility programme to maintain real focus on the key areas of leadership and governance, people and marketplace.

So our employee engagement workshop programme, employee and other stakeholder survey activity, will be enhanced.

In climate change related activities, we have been very successful in reducing our carbon footprint over the years and engaging with our employees by providing them with the appropriate knowledge and tools to reduce their and their families' domestic footprints. We feel we made significant and real progress in 'greening' our current buildings; pending moving to new offices. We have been carbon neutral throughout our global operations for the past three years.

The future
As outlined in our March 2009 Annual Report, Corporate Responsibility remains a key strategic discipline for Man. It is appropriate to ensure that we adapt, focus and resource to add most value and so we are continually developing our strategy to keep the relevance of Corporate Responsibility at the forefront of the firm.

We are committed to pursuing a Corporate Responsibility programme which is consistent with our firm's culture, ethos and reputation. That commitment is not judged by cost but the value it brings to our stakeholders and the importance of Corporate Responsibility in a sustainable and balanced business.