Brevan Howard has cut at least four employees in its technology teams in both London and Abu Dhabi, representing roughly 2% of its middle- and back-office workforce, according to a report by Bloomberg citing unnamed sources familiar with the matter.

The latest departures follow a series of exits from the fund’s tech function over the past 18 months, which has seen seven senior technology staff leave, including three of four executives temporarily overseeing the team before the arrival of new CTO Mike Sanders from JPMorgan last year.

Brevan Howard previously trimmed 7% of its global staff in January 2025 and made significant cuts in April 2024, when around 20% of the workforce was affected, primarily within technology. The reductions come after a period of rapid expansion, when former CEO Kevin Gage brought much of the tech function in-house and added hundreds of employees.

The fund recently secured a $2bn investment from Abu Dhabi-based Lunate, which could support future hiring. Brevan Howard’s flagship Master Fund declined 1.4% through August, while its Alpha Strategies fund returned 6% over the same period, underperforming peers such as Rokos Capital Management, which rose 14%.