REUTERS/Lucas Jackson
The latest step in $34 billion Brevan Howard’s evolution is a big-name hire sliding into a new role.
Former JPMorgan investment banking leader Carlos Hernandez is joining Brevan Howard Group as its first-ever executive chair. Hernandez spent close to four decades at JPMorgan, eventually rising to be the executive chair of the investment and corporate bank and serving as a member of CEO Jamie Dimon’s operating committee.
A person close to the manager told Business Insider that the role is “advisory in nature” and mostly focused on high-level corporate strategy and client development. He joined the firm earlier this month.
In a statement to Business Insider, Brevan Howard CEO Aron Landy wrote that Hernandez is a “longtime friend of our firm” with “unparalleled relationships with global institutions.”
“We look forward to benefiting from his expertise and guidance as we continue to develop and strengthen our investment platform,” Landy said.
Brevan has expanded significantly from its macro roots, becoming a more diversified investment platform that has a stand-alone crypto unit and offices in locations such as Abu Dhabi. The firm now has more than 145 portfolio managers, compared to 35 in 2019.
As such, Brevan is no longer dependent on the trading brilliance of its billionaire founder, Alan Howard. Howard no longer manages money for the firm but is still the majority owner. In 2020, he turned the CEO role over to Landy, the one-time chief risk officer.
Howard’s current role, which is also focused on client relationships and long-term strategy, will not change, the person close to the firm said.
Hernandez retired from JPMorgan in 2023 after 37 years at the firm.
In a statement, Hernandez said he looked forward to working with Landy and the firm’s leadership team on “strategy and key relationships to help accelerate its future success and expand its impact on the global investment landscape.”
The manager’s longest-running strategy, the Master fund, had a strong April, returning 4.5% in the turbulent month. This gain trimmed the fund’s 2025 losses to 1.5% through the year’s first four months.
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