Brevan Howard Trader Cecere Resigns From Hedge-Fund FirmJesse Westbrook
Christopher Cecere, who Japanese regulators accused of trying to manipulate interest rates when he worked at Citigroup Inc., has resigned from hedge-fund firm Brevan Howard Asset Management LLP.
Cecere, an American who worked in Brevan Howard’s Geneva office, stepped down last week for “personal reasons,” said Max Hilton, a spokesman for the London-based firm at Peregrine Communications. Cecere worked for Citigroup in Tokyo as head of Group of 10 trading and sales for Asia before leaving the New York-based bank in 2010.
Japan’s Financial Services Agency said in a December 2010 administrative case that Cecere and another trader asked bankers to alter data they submitted while setting a benchmark Japanese lending rate. The regulator penalized Citigroup without taking action against the employees. Cecere, in a February 2012 interview, denied wrongdoing, saying regulators never questioned him and that he left Citigroup in good standing.
Cecere didn’t respond to a message left on his mobile phone or an e-mail today. His resignation from Brevan Howard was reported earlier by the Wall Street Journal.
Brevan Howard, with $40.1 billion of assets under management, is Europe’s second-biggest hedge-fund firm after Man Group Plc.