Hedge fund Brevan Howard's macro portfolio managers are resurfacing
Things are not going smoothly at Brevan Howard, the hedge fund that hired a lot of people last year and that likes to consider itself a family. Various portfolio managers were cut earlier in April, especially from the systematic macro team. Some of the macro PMs who've recently Brevan - voluntarily or not - are now turning up elsewhere.
Get Morning Coffee ☕ in your inbox. Sign up here.
The most recent ex-BH portfolio manager to reappear is Michael Krupin, a former Barclays G10 FX trader who was at Brevan for a year between May 2023 and May 2024. Krupin has just joined First New York, a self-described 'multistrategy investment firm' offering 'trading infrastructure to experienced portfolio managers.'
Meanwhile, Frank Flight, who spent little over a year at Brevan before flying of his own volition in May, quietly joined the Soros global macro fund in August. Flight previously spent seven years as rates trader at Goldman Sachs.
Nikhil Gutha, a macro PM who stayed at Brevan for a whole four years, has also just reappeared at Point72 in Miami.
Other leavers, like Alfredo Saitta, a former JPMorgan rates trading MD who spent 13 years at Brevan Howard before his fund was shut down in May after losses, are still tending their gardens.
While Brevan Howard had a strong 2022 and returned 20% as interest rates rose, it lost around 2% last year and was down another 1.76% in 2024 through to September. As macro trading picks up again in banks, Brevan may be a likely source of talent. Yun Zhou, a former Brevan PM for a mere 18 months, already joined Citi as an MD in rates options trading in May.
Have a confidential story, tip, or comment you’d like to share? Contact: +44 7537 182250 (SMS, Whatsapp or voicemail). Telegram: @SarahButcher. Click here to fill in our anonymous form, or email editortips@efinancialcareers.com. Signal also available.
Bear with us if you leave a comment at the bottom of this article: all our comments are moderated by human beings. Sometimes these humans might be asleep, or away from their desks, so it may take a while for your comment to appear. Eventually it will – unless it’s offensive or libellous (in which case it won’t.)
Photo by Iswanto Arif on Unsplash
