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Brevan Howard attempts to halt co-founder fund launch plan

Brevan Howard attempts to halt co-founder fund launch plan

A founder partner of hedge fund Brevan Howard is seeking to a court order to overturn a non-compete clause preventing him from launching a rival strategy, the Financial Times has reported.

Jersey court documents reportedly seen by the FT show that Christopher Rokos, who stepped down from the $37 billion group in 2012, is challenging the terms of the five-year order.

The filing argues that Rokos’ ability as a ‘star trader’ would ‘atrophy’ if he complied with the unusually-long time frame stipulated by the contact. Non-compete clauses more typically specific 12-18 month terms, at most.

Brevan Howard argued that his attempt to launch a rival fund ‘constitutes a significant and ongoing threat to the legitimate interests of the partnership.’

The case is expected to be heard in November this year.

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Profile: The opportunity set that attracted Brett Williams to wealth management

Profile: The opportunity set that attracted Brett Williams to wealth management

Brett Williams is best known for helping to build some of the biggest platforms in the IFA market.He made the move over to wealth management to head SEI’s UK business earlier this year in the belief that this is where the best opportunities now lie.

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