Macro hedge fund manager Brevan Howard Asset Management is expanding its operation with a move into credit trading according to a report by Bloomberg.

Macro hedge fund manager Brevan Howard Asset Management is expanding its operation with a move into credit trading according to a report by Bloomberg.

The report cites unnamed sources as revealing that a group of credit trading specialists are to receive more than $1 billion from Brevan Howard, which to date has focused on rates trading, derivatives and relative value strategies.

Andy Silver, a former BlueCrest Capital money manager who joined Brevan Howard last year, is heading up the firm's move into credit trading.