(Bloomberg) -- Brevan Howard Asset Management is hiring Mitesh Gupta, HSBC Holdings Plc's global co-head of flow credit, according to a person familiar with the matter.
Gupta is set to depart HSBC this month, leaving co-head James Deighton in sole charge of flow credit at the lender. Gupta has been at the bank for the last 12 years having previously led its global emerging markets credit team.
Spokespeople for Brevan Howard and HSBC declined to comment. Gupta did not immediately respond to requests for comment by email and telephone.
Hedge funds have been on a hiring spree in 2021 with volatility in markets creating manifold trading opportunities. Brevan Howard has been looking to diversify its sources of revenue away from rates trading.
The fund hired Jenna Collins, a credit portfolio manager from Exodus Point, in September, after poaching Shrut Kalra, former head of investment grade credit trading at Barclays Plc, in April. It has also acquired a minority stake in 1543 Capital, which specializes in structured finance investing and is planning to push into cryptocurrencies through a new multi-strategy fund launching early next year.
Brevan Howard is rebounding from years of outflows, having almost tripled assets from recent lows to manage about $17 billion in October with an additional $3 billion in new cash commitments from investors.
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