Saturday, 23 August 2014
Last updated 22 hours 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.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note