Brevan Howard Asset Management LLP, the $36.7 billion hedge fund that counts Alan Howard among its founders, hired former Deutsche Bank AG investment strategist Gerald Lucas.
Lucas, 62, was a senior investment adviser at Frankfurt-based Deutsche Bank, where he was part of team of researchers that developed trading strategies. He declined to comment when reached by phone today at his Brevan Howard office in New York.
Deutsche Bank said in July that it will eliminate about 1,900 positions, mostly outside Germany, in a bid to boost profits. The bank is targeting an after-tax return on equity of at least 12 percent by 2015 as management overhauls the firm’s compensation system and reduces headcount and costs.
Prior to joining Deutsche Bank in New York in 2006, Lucas was a government bond strategist at Banc of America Securities LLC. He worked at Merrill Lynch & Co. for 16 years before that, Deutsche Bank said in a statement when he was hired.
Officials at London-based Brevan Howard declined to comment, as did Amanda Williams, a spokeswoman for Deutsche Bank.