Brevan Howard

It may not have kept anyone from going to Davos, but people are still pretty pissed at the Swiss over the whole surprise-scrapping-of-the-franc-euro-cap thing. Granted, those people are mostly ones who lost a great deal of money in the ensuing surge in the franc, but such people are legion. For instance, BlueCrest Capital’s Peter von Maydell and COMAC Capital’s Colm O’Shea, who no longer have hedge funds to run. Or Fortress Investment Group’s Mike Novogratz, who hasn’t quite lost as much on the franc as he has on the bitcoin, but who still already has an 8% hole to dig out of this year. Or Interactive Brokers Group, which is pretty sure the $120 million it has lost on the mess isn’t coming back. Read more »

This Is Why Chris Rokos Really Needs A Job (At Home Gym)

The perfect place to punish one's abs.Remember Chris Rokos? The “R” in Brevan Howard? Having a little tiff with his former employer over the atrophy of his trading skills and the crime against humanity that represents?

Well, one thing that’s not atrophying during his five years on the shelf? His body. At least, he’d like to keep it from atrophying, which is why he needs to turn the carriage house behind his apartment into a “cardio area.” Read more »

On the other hand, Christopher Rokos gets to keep that $73 million Brevan wants back until at least March. Read more »

Chris Rokos and his former hedge fund, Brevan Howard, agree on one thing: He was a pretty good trader. The former thinks that the latter’s five-year non-compete is a travesty of justice depriving the world of his irreplaceable skills. The latter is so afraid of those skills that it wants Rokos to sit out every one of those 1,826 non-competitive days, hoping that each one will blunt Rokos’ acumen as much as he fears.

And, indeed, the numbers back it up: Rokos was good. Four billion dollars-plus good. At least until 2012 when he lost almost $400 million and “retired” from a firm where losing $400 million is as good as a letter of resignation. Read more »

For a lot of people in the banking industry, a non-compete is a nice little 3-6 month enforced vacation in between jobs. For Christopher Rokos, a co-founder of Brevan Howard, it’s a half a decade death sentence that will cause his trading hands and legs to shrivel up and break off, or at least become purely ornamental. Read more »

Ray Dalio > Louis Bacon > PTJ > Andy Hall

January’s numbers are in and they are… not great. Especially for Andrew Hall of Phibro fame, who, if he is in fact God, is proving the almighty rather fallible. Read more »

Bonus Watch Fiscal ’12: Brevan Howard Asset Management

Alan Howard and co. really needed that Swiss tax break in the 12 months ended in March. Read more »

  • 12 May 2011 at 11:46 AM

Brevan Howard Shutting Down Equities Fund

According to CNBC’s Kate Kelly, BH made the decision to close the $600 million fund after portfolio manager Fabrizio Gallo left to join Bank of America (which has got to hurt) and investors were rumored to be unhappy with the ‘personnel changes.’ In related news, Larry Summers has apparently been tapped to help ‘woo‘ new clients, so they should be okay.