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Goldman Sachs prop trio heads for Brevan Howard

The hedge fund continues to capitalise on its reputation as a magnet for prop traders leaving the sellside as the Volcker Rule starts to bite

Brevan Howard Asset Management has hired Goldman Sachs's former head of global macro proprietary trading and two of his colleagues, as the firm continues to capitalise on its reputation as a Mecca for prop traders leaving the sellside.

Karl Devine, who ran the four-person team in London, and two of his colleagues, Brad Lord and Andrew Dausch, will join Brevan Howard in May, according to a person familiar with the situation. They will work as global macro traders on the firm's flagship Brevan Howard Master Fund, and Devine will be a partner in the firm, the person said.

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