Brevan Howard Asset Management LLP, Europe’s second-largest hedge fund, hired Credit Suisse Group AG’s Don Carson and Hirak Biswas, according to two people with knowledge of the matter.
Carson, who ran the bank’s U.S. dollar swaps desk, and Biswas left Credit Suisse’s New York office in the past two weeks, said one of the people, who asked not to be identified because the information is private. Carson will work out of Brevan Howard’s New York office while Biswas will transfer to Geneva.
Brevan Howard, which oversees $39 billion, is run by Alan Howard, 49, who started the London-based hedge fund a decade ago with four other fixed-income traders from Credit Suisse. Brevan Howard’s main fund posted a 2 percent gain this year through Oct. 5, according to a person with knowledge of the returns. Macro funds on average lost 0.7 percent through September, while hedge funds returned 3.1 percent, according to data compiled by Bloomberg.
Carson previously worked at BNP Paribas in New York and Banc of America Securities LLC, according to records maintained by the Financial Industry Regulatory Authority. Biswas was hired by Credit Suisse in 2010 as a director in U.S. government trading, according to a June 2010 memo. He previously traded long-term government bonds and zero-coupon securities at Morgan Stanley, the memo said.
A spokesman for Brevan Howard declined to comment.