Brevan Howard Is Said to Cut 50 Jobs After Assets Decline
- Global reductions represent about 10% of total employees
- Hedge fund firm's assets have shrunk 11% in first nine months
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Brevan Howard Asset Management, the $24.8 billion hedge fund firm run by billionaire Alan Howard, eliminated about 50 jobs amid shrinking assets and near-zero returns this year, according to people familiar with the matter.
The reduction represents more than 10 percent of the 435 employees Brevan Howard had as of June 1.