Brevan Howard Payroll Plummets

Jun 7 2010 | 2:10pm ET

Europe’s largest hedge fund may be the home to Europe’s largest pay cut.

Directors and employees of Brevan Howard Asset Management split just £54.2 million last year, according to the accounts for Brevan Howard Services. The previous year, the figure was £258.9 million.

Brevan Howard Services handles the London-based hedge fund’s payroll and office administration.

The 2009 pay figures only cover eight months, as Brevan Howard has shifted its fiscal year. It covers all staff costs for the firm’s 214 employees.

Brevan Howard this year opened an office in Switzerland with room for as many as 50 staffers.

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