Key Takeaways
- • Brevan Howard has grown its headcount by roughly 40% this year to about 1,000 people globally, according to eFinancialCareers, up from more than 700 reported by Bloomberg in February.
- • The hedge fund is expanding into systematic strategies, technology and data, moving beyond its historic macro base under CEO Aron Landy.
- • Abu Dhabi office is slated to grow from 50 to 100 people by next year under Oualid Lahsini, who joined from Ares in August.
- • Several 2023 exits came from the crypto team, which grew during the pandemic and was reportedly cut back at the end of 2022.
- • Brevan Howard declined to comment on its recruitment, and eFinancialCareers frames the firm as having a more patient approach to underperforming traders than peers.
Summary
Brevan Howard has added staff at a rapid pace this year, according to eFinancialCareers. The publication estimates the firm now employs 1,000 people globally, an increase of roughly 40%. Bloomberg had put its headcount at "more than" 700 in February, which would imply headcount growth of about 43% in eight months. Brevan Howard did not comment on its hiring.
The hiring reflects a continued push beyond the fund's macro roots. Under Aron Landy, who became CEO in October 2019 after serving as chief risk officer, the firm has expanded into new strategies. Many of this year's recruits have joined systematic strategies, technology and data teams. eFinancialCareers cites several recent hires, including Seth Osher, formerly of HSBC, who joined as head of credit technology in September; Markus Hveem, who joined from JPMorgan's Paris office in September; and Gianluca Delli Rocioli, formerly head of RMS FX at Deutsche Bank in Italy, who joined the Geneva office this month.
The firm is also building out in Abu Dhabi, where it plans to reach 100 staff by next year from 50 currently, led by Oualid Lahsini, who joined from Ares in August.
Brevan Howard has historically positioned itself as more stable than peers. Landy told the Financial Times three years ago that "Brevan Howard is a family, we care deeply about our business but we care deeply about every individual." Unlike funds that enforce strict loss limits, the firm says it works to rehabilitate traders after periods of poor performance.
Exits have not been absent. Several departures this year came from the crypto team, which expanded during the pandemic and was reportedly laying off staff at the end of last year. Named departures include Jonathan Cheung, a crypto investment analyst in London, and Shrey Rastogi, who worked on DeFi investments in Hong Kong.
The hiring reflects a continued push beyond the fund's macro roots. Under Aron Landy, who became CEO in October 2019 after serving as chief risk officer, the firm has expanded into new strategies. Many of this year's recruits have joined systematic strategies, technology and data teams. eFinancialCareers cites several recent hires, including Seth Osher, formerly of HSBC, who joined as head of credit technology in September; Markus Hveem, who joined from JPMorgan's Paris office in September; and Gianluca Delli Rocioli, formerly head of RMS FX at Deutsche Bank in Italy, who joined the Geneva office this month.
The firm is also building out in Abu Dhabi, where it plans to reach 100 staff by next year from 50 currently, led by Oualid Lahsini, who joined from Ares in August.
Brevan Howard has historically positioned itself as more stable than peers. Landy told the Financial Times three years ago that "Brevan Howard is a family, we care deeply about our business but we care deeply about every individual." Unlike funds that enforce strict loss limits, the firm says it works to rehabilitate traders after periods of poor performance.
Exits have not been absent. Several departures this year came from the crypto team, which expanded during the pandemic and was reportedly laying off staff at the end of last year. Named departures include Jonathan Cheung, a crypto investment analyst in London, and Shrey Rastogi, who worked on DeFi investments in Hong Kong.
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