Launches & Closures People Moves

Brevan rejigs equities as Gallo rejoins buyside, eyes growth in commodity, CTA and EM funds

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Brevan Howard, the $30 billion hedge fund group founded by Alan Howard, is shutting down its standalone equity fund following the decision by lead equity partner Fabrizio Gallo to return to the sell-side in a senior role with Bank of America Merrill Lynch.

The standalone Brevan Howard Equity Strategies Fund formed only a small part of the firm’s overall activities – mainly running internal capital, with only limited third-party investment.

The two other traders who worked with Gallo on equity and volatility trading are being reassigned to the main Brevan Howard global macro fund and equity strategies will