Brevan Howard Hedge Fund Co-Founder To Leave Firm

New York (HedgeCo.net) - Jean-Philippe Blochet has left Europe's biggest hedge fund firm, Brevan Howard, Bloomberg reports, "Following his return from sabbatical last year, Jean-Philippe Blochet has decided to cease to be an active member of Brevan Howard Asset Management LLP," the firm said in a statement.

Blochet was co-founder of Brevan Howard and was part of the hedge fund firm's macro team, focusing on currencies and interest rates.

Brevan Howard had $25.7 billion in assets under management as of September 2009, it returned more than 20% last year while the average hedge fund lost around 19%.

Also leaving Brevan Howard is UCITS fund manager Stephane Diederich, who was hired from Credit Suisse in 2007 to set up an alternative CDO (collateralized debt obligation) business, an area of the financial world that was hit hard by the credit crisis, Bloomberg reported.