Brevan Howard, the high-profile global macro hedge fund manager founded by Alan Howard, has rehired Cove Capital founder and CIO Louis Basger, who previously spent six years at Brevan in Geneva.

Before setting up his own Geneva-based manager, Basger was at Brevan Howard Asset Management between 2010 and 2016, initially as a trade analyst and later a portfolio manager for the firm’s main Brevan Howard Master Fund.

He was earlier an associate at Morgan Stanley between 2005 and 2010, working in the US bank’s fixed income sales and trading division in London.

Basger will start at Brevan Howard on 1 November. As part of the move, the Cove Capital Macro Funds are being rebranded as the BHLB Macro Funds, and managed by Basger internally at Brevan.

His move follows the recent strengthening of Brevan’s global business development team last month, with a quartet of hires in the US, Europe and Asia from well-known hedge fund firms including Exodus Point Capital Management and Bluecrest Capital.

Established in 2002, Brevan Howard today manages some USD11 billion in investor assets across six offices globally.

Its main Brevan Howard Master Fund has generated strong double-digit returns so far this year, having successfully traded through the coronavirus-driven market turbulence earlier in 2020.