Brevan Howard recently engaged Colleen Sullivan, the former CEO of CMT Digital, to lead private and venture crypto investments. According to a new report from Reuters, Brevan Howard, a hedge fund based in the United Kingdom, aims to “substantially increase” its cryptocurrency and digital assets.
Brevan has a “commitment to aggressively expanding its platform and solutions in cryptocurrencies and digital assets,” according to Chief Executive Aron Landy, who has been at the head since co-founder and long-time crypto supporter Alan Howard stepped down in 2019.
Brevan has a two-pronged approach to crypto in the future. The company is forming a new business division called “BH Digital” to handle its crypto and digital assets, as well as hiring Colleen Sullivan, the CEO of CMT Digital, to head private and venture crypto investments.
Since late 2013, Sullivan has overseen CMT Digital, a CMT Group division focused on crypto trading, blockchain investments, and industry legal/policy engagement. She’d be the chairwoman of a Brevan investment committee tasked with developing a new crypto-focused strategy. Sullivan’s employment “will be of significant advantage to Brevan Howard clients,” according to Landy, who praised her “excellent track record in generating highly successful crypto startup investments.”
Brevan’s crypto strategy under Landy implies that Howard’s departure hasn’t dampened the company’s interest in the industry. The Brevan Howard Master Fund said in April that it would commit 1.5 percent of its assets to cryptocurrency, or $84 million, under his guidance.
Howard has made a number of crypto investments, including in Block. one, an EOS developer, and Bakkt, an ICE-owned digital asset platform. He also invested in Asian crypto investment site Kikitrade and managed a $25 million expansion round for London-based crypto services startup Copper. co this summer. He also holds a 25% position in One River Digital Asset Management, a hedge fund located in the United States that bought $600 million in Bitcoin (BTC) and Ether (ETH) in 2020.
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