Brevan To Shutter Hedge Fund After Manager Leaves

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.

In Depth

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


U.S. Trust's Beard: The Rapid Growth of the Art Lending Industry

Oct 7 2016 | 10:55pm ET

Alternative investment managers have emerged as some of the most significant art...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...