Brevan Howard Cuts About 10% of Traders Amid Hedge Fund Losses
- Firm is slashing jobs after main fund lost about 3% this year
- Employees asked to leave for underperformance, people say
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Brevan Howard Asset Management, the hedge fund co-founded by billionaire Alan Howard, is cutting about two dozen traders, or about 10% of the total, people familiar with the matter said.
The Jersey, Channel Islands-based firm eliminated a batch of traders for underperformance as part of its twice-a-year review, the people said, asking not to be identified discussing internal matters. A representative for Brevan Howard, which employs roughly 210 traders, declined to comment.