Brevan Howard partner departs
Klaus Oestergaard, a partner at London-based hedge fund manager Brevan Howard, has left the firm.
Oestergaard joined Brevan Howard in 2004 as a fixed-income portfolio manager, and was promoted to partner in 2007. Prior to joining Brevan Howard, he worked with the firm’s founder Alan Howard on the proprietary trading desk at Credit Suisse. Oestergaard’s plans are not yet known.
His departure follows that of another senior Brevan Howard executive, co-founder Chris Rokos. Aged just 42, he announced his decision to retire last August, saying he would ‘pursue his personal interests’.
Others to leave are execution trader Philip Valori and trade analyst Ben Bristow. Bristow had been with the firm since 2003, according to information held by the Financial Services Authority. Their plans are not known.
The departures comes as Brevan Howard is looking to move its main office back to London from Geneva, after three years in Switzerland. The firm is considering renting offices in St James’s, central London. More than 100 of its 400 staff are based in the Swiss city, with about 200 in its Baker Street, London offices.
Brevan Howard’s assets under management grew by $2.5bn to $36.7bn in the first six months of 2012. The bulk of these assets ($25bn) are in the Brevan Howard Master Fund, which grew 12% last year.