Sunday, 1 February 2015
Last updated 2 days ago
May 13 2011 | 1:46pm ET
Brevan Howard Asset Management is pulling the plug on a hedge fund after its manager quit to join Bank of America Merrill Lynch.
The $24 billion London-based firm said it would liquidate Fabrizio Gallo's $569 million Equity Strategies Fund. The fund, which was roughly flat this year, will be wound down in the next few weeks, CNBC reports.
Gallo managed the five-year-old fund for about a year-and-a-half.
Gallo, who spent 15 years at Morgan Stanley before joining Brevan Howard in 2009, was named co-head of global equities and European global markets at BofA. He'll start later this year.
At Morgan Stanley, Gallo was head of equities and global proprietary trading.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…