Brevan Howard Hires Deutsche Bank’s Pande for New U.S. Group
Pande, 55, will start Oct. 1 as head of a team including Gerald Lucas and two other researchers, he said today in a telephone interview. The group will be managing money for Brevan Howard U.S. Investment Management LP, which was set up in June, Pande said.
Brevan Howard is expanding after the London-based firm outperformed the hedge-fund industry last year. Assets under management are about $36.7 billion, and the U.S. investment unit initially will oversee about $300 million, according to a June regulatory filing.
Pande joined Frankfurt-based Deutsche Bank in 2006 after leaving Caxton Associates LLC, a New York hedge fund. His advisory group developed strategies for investing around the world, the bank said in a 2006 statement.
From 1985 to 1993 he worked for the World Bank in Washington, including as chief investment officer. His plans were reported earlier by aiCIO, a newsletter.
Max Hilton, a spokesman for Brevan Howard, and Amanda Williams, a spokeswoman for Deutsche Bank, declined to comment.
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