Rokos Capital Management, the hedge fund founded by former Brevan Howard trader Chris Rokos, reported a sharp increase in remuneration for its highest-paid member, who earned £110.2m in the year ending 31 March 2024 – a 312% rise from £26.7m the previous year, according to a report by Financial News.
The increase in pay comes despite a challenging year for the firm, which saw its revenue drop 31% to £445m, down from £643m in 2023. Operating profit also declined significantly, falling 42% to £266m from £462m, according to the company’s accounts.
Rokos Capital Management, which manages over $17bn in assets, operates with a workforce of more than 300 employees across London, New York, and Singapore. Its team includes over 80 investment professionals.
The period also saw leadership changes at the firm, with Mark Edwards stepping down as CEO on 29 February 2024, and Matthew Sebag-Montefiore, the firm’s Chief Strategy Officer since 2018, appointed as CEO in August.
The performance at Rokos contrasts with other hedge funds like Michael Platt’s BlueCrest Capital Management, which also reported its annual results recently. BlueCrest’s highest-paid member saw a sharp 94% drop in pay, receiving £4.4m compared to £78.4m the previous year.
