Brevan Howard hasn’t exactly been in expansionary mode this year. In the wake of some shaky performance, senior staff members have departed, others have been shipped out of Mayfair to Switzerland.
However, as well as the exits, the hedge fund has been indulging in a spot of hiring over the past few weeks. Menashe Banit, who had been working at JPMorgan since 2005 in its chief investment office, joined Brevan Howard in November, according to filings on the Financial Conduct Authority register.
Banit is likely to be a relatively senior hire, but Brevan Howard has also been hiring at the junior end. Thomas Davies, who was in futures and options sales at Nomura – and Lehman Brothers before that – also joined Brevan Howard earlier this month.
Brevan Howard now has 81 FCA approved employees in London, down from 99 at the beginning of 2013. As well as the move away from London to its Geneva headquarters, Brevan Howard is also renowned for letting money managing employees go when performance dips.
Most recently, Dhruv Piplani, the Goldman Sachs trader who made it to MD aged just 29 and only joined Brevan Howard in October 2013, has departed. Neilan Govender, who was a senior portfolio manager, returned Credit Suisse after just eight months at Brevan Howard late last year.