Rokos to quit Brevan Howard
Christopher Rokos, co-founder at Brevan Howard, the $36.7 billion Geneva-based hedge fund, is to leave “to pursue his personal interests,” according to reports.
Rokos, who specialises in trading interest rate swaps and volatility derivatives, will stop managing money at the end of this month, reports said.
Rokos is the latest of the five founding partners to leave. James Vernon, the former COO, left in 2011 while Jean-Philippe Blochet quit in 2009. Trifon Natsis and Alan Howard, the CIO, are the only two remaining founders.
Prior to co-founding Brevan Howard, Rokos was a director at Credit Suisse First Boston. He was also previously a swap trader at Goldman Sachs, according to his LinkedIn profile.
Brevan Howard was established in 2002 by five traders from Credit Suisse’s fixed income prop desk and has since become the second largest hedge fund in Europe, helped in part by an excellent performance during the crisis. The Brevan Howard Master Fund, the firm’s flagship fund, gained 20.4% in 2008, compared to the average hedge fund which lost 19%.
The Financial Times said performance has been somewhat muted of late, with the master fund delivering 1% in 2011, and 2.5% year-to-date 2012.