Brevan Howard has lost the services of long-tenured macro portfolio manager Mike Graham, who joined the firm as a graduate in 2007, despite a recent improvement in performance at the hedge fund, according to a report by eFinancial Careers.
According to his LinkedIn profile Graham has left the firm and is currently on a non-compete. Both Graham and Brevan Howard reportedly declined to comment on the move.
Graham’s exit comes at a time when fortunes appear to be turning for the macro specialist. Brevan Howard’s flagship Master Fund gained 4.4% in January, following a subdued 0.8% return across 2025, highlighting renewed momentum after a challenging period for discretionary macro strategies.
Although Graham was not among the firm’s original founders, his tenure spanned much of Brevan Howard’s formative growth following its launch in 2002. Aside from a brief period serving in the British Army, his professional career was spent entirely at the hedge fund, underscoring the significance of his departure.
The move follows a period of internal change at Brevan Howard. Earlier this year, Bloomberg reported that senior trader Fash Golchin had transitioned from running an externally capitalised ‘FG Fund’ to overseeing the largest cash allocation within the firm’s $11.4bn Master Fund, signalling adjustments to portfolio structure and risk deployment.
