The head manager of Brevan Howard Asset Management’s currency fund is leaving the firm.
Financial News reported that the departure of Luke Ding, who is also a partner at London-based Brevan, is amicable and follows poor performance at the currency fund. The assets in the fund have dropped in the last year.
The article also said that Brevan Howard is deciding whether to shut down the fund or keep it open. The firm is also in the process of determining if the two or three traders who work under Ding will leave the firm or reassigned internally.
Other traders have also recently left the firm following its bi-annual review.
With offices around the world, including Hong Kong, Geneva, and Brazil’s São Paulo, Brevan Howard manages about $40.1 billion in assets.