Hedge fund Brevan Howard is cutting staff, again

24 September 2025

2 minute read

Hedge fund Brevan Howard is parting company with some of its staff.

Get Morning Coffee ☕ in your inbox. Sign up here.

Sources at the fund say that Brevan Howard has cut at least four people in its technology team. It's understood that the cuts amount to 2% of the workforce in middle and back office roles. It's thought that teams in both London and Abu Dhabi are affected.

Brevan Howard didn't respond to a request to comment.

The involuntary departures are the latest in a series of exits from Brevan's technology team, which has lost seven of its most senior people in the last 18 months, including three out of four people who were briefly running the function before new CTO Mike Sanders arrived from JPMorgan last year.

Brevan Howard cut 7% of its staff globally in January 2025. It also made cuts in April 2024. Bloomberg said in January that it operates a "twice-year review".

Brevan's technology team expanded rapidly in recent years. When former CTO Kevin Gage arrived from Mizuho in late 2022, it's understood that he brought much of Brevan Howard's technology function in-house and added hundreds of staff. Now, the fund seems to be cutting back again. When the cuts happened in April 2024, 20% of Brevan's headcount was removed and technology staff are thought to have been the main focus.

Brevan recently secured an investment of $2bn from Abu Dhabi-based Lunate and is expected to hire as a result. The Brevan Howard Master Fund was down 1.4% in the year to August. However, the Alpha Strategies fund was up 6%. Rokos Capital Management was up 14% over the same period.

In March, Bloomberg reported that Brevan Howard was cutting traders' ability to take risk after losses exceeded 5%.

Have a confidential story, tip, or comment you’d like to share? Contact: +44 7537 182250 (SMS, Whatsapp or voicemail). Telegram: @SarahButcher. Signal: sarahbutcher.22 Click here to fill in our anonymous form, or email editortips@efinancialcareers.com.

Bear with us if you leave a comment at the bottom of this article: comments are moderated intermittently by human beings. Sometimes these humans might be asleep, or away from their desks, so it may take a while for your comment to appear. You must take sole responsibility for comments you post on this site. We will take reasonable steps to weed out anything that we consider to be offensive or inappropriate.