Pay at Brevan Howard soars

first_img Show Comments ▼ Tags: NULL PARTNERS at Brevan Howard Asset Management, the largest hedge fund in Europe, shared a bumper payout of £86.1m at the height of the financial crisis, accounts revealed yesterday.Around 45 members of the trading firm – including founders Alan Howard and James Vernon, and corporate investors such as Swiss Re – shared the bonus pot despite the meltdown in equity markets in the eight months to March 2009. The pool was larger than the £66.4m distributed in 2007, although year-on-year comparison is not precise due to accounting changes.Operating expenses for the period, including salaries, came to £605.8m.Brevan Howard earned £700m in fees as its flagship Master fund sidestepped earth-shaking events such as the collapse of Lehman Brothers.The Master fund generated a return of 21 per cent in 2008 after cutting its leverage by 80 per cent and moving heavily into cash. Howard, a former Salomon Brothers trader, is said to be fixated with “black swans” – unpredictable events that can send markets into turmoil – and directed his fund managers to sell off risky equity exposure in the run-up to the credit crunch.Brevan Howard’s assets under management stand at $31.8bn (£20.6bn). Share Pay at Brevan Howard soars KCS-content center_img Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof Tuesday 24 August 2010 8:44 pm whatsapp whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastElite HeraldKate Middleton Dropped An Unexpected Baby BombshellElite HeraldTrading BlvdThis Picture of Prince Harry & Father at The Same Age Will Shock YouTrading Blvdlast_img

Leave a Reply

Your email address will not be published. Required fields are marked *

*
*