- Hillery to manage own money after six years at Brevan Howard
- Jersey-based firm's main fund up 1% in year through Aug. 28
Brevan Howard Asset Management’s Mark Hillery has stepped down as a partner at the hedge-fund firm, according to a person familiar with the situation.
Hillery, 50, left the partnership this month, documents filed with the U.K.’s Companies House registry show. Though he’s leaving to manage his own money, he will continue as an adviser to the Jersey-based firm’s funds, the person said, asking not to be identified because the matter is private.
A spokesman for Brevan Howard declined to comment.
Brevan Howard, which trades on macro-economic trends, hired Hillery in 2009, a year after his departure from Tudor Investment Corp., the U.S. hedge fund firm founded by Paul Tudor Jones.
Billionaire Alan Howard co-founded Brevan Howard in 2003. Its flagship Master Fund, which runs $21.7 billion, slipped in the month to Aug. 28, halving its gain for the year to 1 percent. In 2014 the fund posted its first annual loss since its inception.
Reuters reported Hillery’s departure earlier today.