Seven years ago, the Howard in Brevan Howard decamped from his native Albion for the low-tax, low-regulation shores of Lake Geneva. Things have not gone well since then. After years of reigning as both the richest British hedge fund manager not in Britain and the richest hedge fund manager in Britain (in spite of his not being there), Howard’s been plummeting down the list. The “Breva” in “Brevan” all left, and he decided he didn’t need them anymore anyway. Even so, n Howard has been forced to work for free on account of not working very well at all. And what little remaining talent remains is striking out on its own, rather than going down with the ship.
Mr. Howard—co-founder of Brevan Howard Asset Management LLP and one of the industry’s richest and most secretive operators—plans to move back to London imminently for family reasons, a person familiar with his plans said.
Some are painting this as a vote of confidence in battered Britain that there will be life after Brexit. After all, Howard’s own 2010 Brexit was in part to get out from under those onerous EU regulations his homeland soon hopes to throw off. But “family reasons” aren’t exactly an endorsement of Theresa May’s plans, such as they are. And n Howard may not be long enough to contribute to independent England’s economy.