Brevan Howard Pay Cut

Brevan Howard Cut Payroll Significantly from 2008 to 2009

Europe's biggest hedge fund, Brevan Howard, may enact the biggest pay cut on its employees.  In 2008, Brevan Howard Asset Management's directors and staff split £258.9 million but in 2009, the firm split £54.2 million among its staff. 

Europe’s largest hedge fund may be the home to Europe’s largest pay cut.

Directors and employees of Brevan Howard Asset Management split just £54.2 million last year, according to the accounts for Brevan Howard Services. The previous year, the figure was £258.9 million.

Brevan Howard Services handles the London-based hedge fund’s payroll and office administration.

The 2009 pay figures only cover eight months, as Brevan Howard has shifted its fiscal year. It covers all staff costs for the firm’s 214 employees.

Brevan Howard this year opened an office in Switzerland with room for as many as 50 staffers.  Source

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