Brevan Howard Asset Management, the hedge fund co-founded by billionaire Alan Howard, is cutting about two dozen traders, or about 10% of the total, people familiar with the matter said.
The Jersey, Channel Islands-based firm eliminated a batch of traders for underperformance as part of its twice-a-year review, the people said, asking not to be identified discussing internal matters. A representative for Brevan Howard, which employs roughly 210 traders, declined to comment.