Brevan Howard Asset Management is cutting around 10% of its workforce — or about 100 employees — to reduce costs as one of the world’s best known hedge funds streamlines its rapidly-growing operation.
The cuts include about 20 traders and are mostly focused on the firm’s back office and technology staff, according to a person with knowledge of the matter. The firm employs more than 1,100 people across eight trading hubs from London, New York, Abu Dhabi to Hong Kong.