Brevan Howard Co-Founder, COO Vernon To Quit

Jul 22 2011 | 12:42pm ET

Brevan Howard Asset Management is losing its "v."

James Vernon, a co-founder of the global macro giant and its chief operating officer, will leave the firm in September, the Financial Times reports. Vernon is the most senior executive to leave the firm since it was founded nine years ago.

Vernon plans to "pursue other interests," the hedge fund told investors this week. He will remain a non-executive director on the $32.6 billion firm's non-UCITS funds.

Vernon, one of the public faces of the highly secretive firm, is the second Brevan Howard co-founder the leave the firm. Jean-Philippe Blochet quit in 2009 and joined Moore Capital Management last year. But, unlike Vernon, Blochet did not have a senior management role at the firm.

Co-founders Alan Howard, Trifon Natsis and Christopher Rokos remain with the firm.

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