, Columnist
Alan Howard Goes Back to His Secret Sauce
Brevan Howard’s founder is stepping down as CEO to focus on trading. Investors increasingly want hedge fund star names back in the kitchen.
Chef but not patron.
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Alan Howard stepping down as chief executive officer of Brevan Howard Asset Management is a logical step after his 2017 decision to set up a separate fund. That’s all he will do now (or at least that’s the idea).
But there’s a broader trend at play here in the hedge fund and asset management industry. Being too big or too diverse is no longer a good look for a money manager with a celebrity name attached. Fickle institutional money is demanding that the star chef is actually in the kitchen and not just sticking their brand on the sauce bottle.