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Trader Connected to Rate-Rigging Scandal Resigns

Jun 27, 2013
Jing Chen

The Brevan Howard trader who is allegedly tied to the global interest-rate-rigging scandal resigned from the hedge fund last week.

Financial News reported that Brevan spokesman Max Hilton said that Chris Cecere, who joined Brevan from Citigroup in 2010, is departing due to “personal issues.”

The article said that disappointing trading performance also played a factor in Cecere’s resignation.

Japan’s Financial Services Agency alleged in a 2011 administrative action against Citigroup that Cecere’s attempt to rig the Tokyo Interbank Offered Rate, or TIBOR was “unjust and malicious, and could undermine the fairness of the markets."

With offices around the world, including Hong Kong, Geneva, and Brazil’s São Paulo, Brevan Howard manages about $40.1 billion in assets.

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eVestment’s 2015 Hedge Fund Industry Outlook

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