One of the co-founders of the fourth biggest hedge fund in the world, $32.6 billion Brevan Howard Asset Management, is leaving the firm, those good folks at BusinessInsider report.
James Vernon, who is the firm's COO, is leaving to pursue "other interests," Bloomberg reported.It's a huge loss for the giant macro fund.
"As chief operating officer, Mr Vernon has been instrumental in Brevan Howard’s success, say people familiar with the firm," the FT reported.
Vernon and co-CEO Nagi Kawkabani "were the only public faces of the firm, whose other founders jealously guard their privacy." That makes him the second founding partner to leave the hedge fund colossus in less than two years. Jean-Philippe Blochet quit to join Louis Bacon's Moore Capital, before leaving to focus on philanthropy.
It's not a great time for such a high-level departure -- Brevan's returns sucked last year, and haven't improved much in 2011….
Don't stop now. There's more at http://www.businessinsider.com/founder-of-32-billion-hedge-fund-brevan-howard-is-quitting-the-firm-2011-7
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