Goldman Sachs prop trio heads for Brevan Howard

The hedge fund continues to capitalise on its reputation as a magnet for prop traders leaving the sellside as the Volcker Rule starts to bite

Wednesday 30 March 2011 at 15:59

Brevan Howard Asset Management has hired Goldman Sachs's former head of global macro proprietary trading and two of his colleagues, as the firm continues to capitalise on its reputation as a Mecca for prop traders leaving the sellside.

Karl Devine, who ran the four-person team in London, and two of his colleagues, Brad Lord and Andrew Dausch, will join Brevan Howard in May, according to a person familiar with the situation. They will work as global macro traders on the firm's flagship Brevan Howard Master Fund, and Devine will be a partner in the firm, the person said.