Friday, 24 October 2014
Last updated 10 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.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
David and James Hamman launched their fundamental Livestock and Grains Program in March of 2010 but it really was decades in the making.