Finalternatives – One of Brevan Howard Asset Management\u2019s co-founders is suing his old firm, seeking the right to launch a hedge fund of his own before 2017.<\/p>\n
Christopher Rokos wants his five-year non-compete clause junked, saying that a bar on managing outside capital for such a long period is an unfair restraint of trade that could lead his skills to \u201catrophy.\u201d Rokos, the \u201cR\u201d in Brevan, goes on to say that such a non-compete is \u201ccontrary to the public interest,\u201d as it means the public will be \u201cdeprived\u201d of Rokos\u2019 \u201cskills and hard work for period in excess of five years.\u201d<\/p>\n
Brevan Howard wants the Channel Islands court to uphold the non-compete, the Financial Times reports. It acknowledges Rokos\u2019 skills and says that his past access to its investors \u201cconstitutes a significant and ongoing threat to the legitimate interests of the partnership,\u201d and seeks damages for breach of duty and misrepresentation.<\/p>\n