When Alan Howard set off for a business trip to India as a young Salomon Brothers bond trader in the late 1980s, colleagues advised against drinking local water. When he got back, the buzz on his trading desk was about the huge tab Howard had run up buying cases of Evian water, according to a person who worked with him at the time.
Pacific Investment Management Co. hired Geraldine Sundstrom, formerly of Brevan Howard Capital Management LP, as the world’s biggest bond manager bolsters its ranks after a leadership shakeup earlier this year.
Brevan Howard Asset Management LLP, the hedge fund run by Alan Howard, will return about $2 billion to investors in the firm’s biggest fund, keeping a promise to clients to limit the size of the $26.9 billion pool.
Brevan Howard Capital Management LP has started an investment fund run by a team of former Deutsche Bank AG market strategists in New York, as Europe’s second- biggest hedge-fund firm expands its presence in the U.S.