Brevan Howard to battle co-founder Rokos' rival plans- FT

Sun Aug 10, 2014 5:38pm EDT

Aug 10 (Reuters) - Hedge fund firm Brevan Howard is battling a court case filed by former trader Christopher Rokos, who is asking for his five-year non-compete clause to be overturned, the Financial Times reported on Sunday, citing documents filed to a court in Jersey.

Co-founder Rokos, who hopes to launch his own hedge fund, has argued in his filing that a five-year ban on him would "atrophy" his trading skills, and damage his professional reputation and contacts, the paper said.

Rokos left the firm in 2012 after the amount of money he managed was cut. Brevan Howard is best known for its $28 billion Master fund - a macro hedge fund that has until now never had a down year.

The FT said Brevan Howard had stated in court that due to Rokos' skills as a trader and past access to investors, any attempt he made to start his own fund "constitutes a significant and ongoing threat to the legitimate interests of the partnership." (on.ft.com/1uDx5Qr)

The case will be heard in November this year, the daily said.

Brevan Howard and Rokos did not immediately respond to separate emails seeking comments. (Reporting by Esha Vaish in Bangalore; Editing by Marguerita Choy)

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