British hedge fund Brevan Howard expands further into crypto

London: British hedge fund Brevan Howard said on Monday it was expanding its crypto business, bringing in a new executive to lead private and venture investments in the space and launching a new division, BH Digital.

Brevan, more famous for its bets on macroeconomic trends, has been among the most high-profile of major funds moving into the fledgling world of crypto trading, known for its highly volatile markets and scope for outsize gains.

After launching a digital assets fund and saying in May that its flagship fund would invest in cryptocurrencies, the firm said on Monday it had hired CMT Digital chief executive Colleen Sullivan to lead private and venture investments in crypto.


Sullivan, who specialised in crypto-asset trading and blockchain technology investments at trading firm CMT, will also chair the investment committee of a new strategy focused on crypto technology, it said in a statement.

"Colleen's exceptional track record in making highly successful crypto venture investments will be of tremendous benefit to Brevan Howard clients and underscores the firm's commitment to rapidly expanding its platform and offerings in cryptocurrencies and digital assets," Brevan CEO Aron Landy said.

Separately, Brevan also said it was launching a new business division, BH Digital, to manage and "significantly expand" its cryptocurrency and digital assets.