Jersey-based global macro hedge fund major Brevan Howard, has parted ways with Gautam Sharma, Chief Executive Officer of its digital investment arm BH Digital, after nearly five years with the firm, according to a report by Bloomberg.

The report cites unnamed people familiar with the matter as confirming that Sharma, who went on leave earlier this year, will not be returning to BH Digital and that there are no plans to replace him.

Sharma previously helped build out BH Digital, Brevan Howard’s multi-strategy digital-assets platform launched in 2021, which has since grown to around $2bn in AUM and employs more than 60 staff, including at least 10 portfolio managers. He also worked closely with co-founder Alan Howard on family office crypto investments prior to taking the digital CEO role.

Separately, Brevan Howard is spinning out Nova, the hedge fund run by Kevin Hu, following internal losses and a shift away from Hu’s investment style. Earlier this year, the firm named Chris Rayner-Cook, formerly of Coinbase, Millennium and Citadel, as CIO of BH Digital.