A portfolio manager at Brevan Howard Asset Management, who relocated to Switzerland last year and recently shared a £204m payout with 37 other partners, is returning to London to set up his own hedge fund.

Frederic Denjoy, who has traded equities at Brevan Howard for almost six years, has set up Denjoy Capital Partners and plans to launch long/short equities fund on May 1, according to a person familiar with the situation. The strategy will mainly focus on Europe but will have some international exposure, the person said.