Brevan Howard, one of Europe’s largest hedge funds, also is one of the world’s most secretive. So it’s surprising to see a court battle involving the London-based firm spill out into the public eye.
Citing court documents it reportedly has reviewed (paywall), the Financial Times today reported that Chris Rokos, a founding partner at Brevan Howard, is asking the courts to throw out a five-year non-compete clause in his employment contract that would have kept him on the sidelines of global markets for years.
In 2012 Rokos, 43, left Brevan Howard, where he was something of a rock star in the world of global macro trading, where bets on assets like currencies and government bonds are made in response to broad economic data and central bank decisions.
Outside the bond business, he’s known simply for his wealth. Rokos is a large donor to the Conservative Party in the UK. There’s a quad named after him at Oxford’s Pembroke College. Perhaps he’s best known for the kerfuffle caused by his plans submitted a few years ago to expand a run-down London hotel he bought and turn it into a palatial residence, with a four-story subterranean addition that would house a 16 ft.-deep swimming pool and high-diving board.
The expense of such a project doesn’t seem so outlandish when it’s considered in the context of how much traders of Rokos’ stature can actually make.
Citing court documents, the Financial Times says Rokos, formerly a star at Goldman Sachs, earned about $900 million dollars in his roughly 10-year stint at Brevan Howard.
The court case between Brevan Howard and Rokos is expected to be heard in November.