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Brevan Howard’s Vernon to Depart $32.6 Billion Hedge Fund He Helped Found

By Saijel Kishan - 2011-07-22T15:35:02Z

James Vernon, co-founder of Brevan Howard Asset Management LLP, is leaving the $32.6 billion hedge fund, the second founding partner to quit in less than two years.

Vernon, who represented the “V” in Brevan Howard, decided to leave to pursue “other interests,” the London-based firm said in a July 19 letter to investors. The first part of the firm’s name is made up of the initials of founding partners Jean-Philippe Blochet, Christopher Rokos, Vernon and Trifon Natsis.

Blochet left the firm last year to join Moore Capital Management LLC as a senior portfolio manager. He quit the New York-based hedge fund in May to focus on philanthropy.

Max Hilton, a spokesman for Brevan Howard, declined to comment on Vernon’s departure, which was reported yesterday by the Financial Times.

Vernon will remain a non-executive board member of Brevan Howard’s non-UCITS funds, according to the letter.

To contact the reporter on this story: Saijel Kishan in New York at skishan@bloomberg.net

To contact the editor responsible for this story: Christian Baumgaertel at cbaumgaertel@bloomberg.net