Two Brevan Howard Asset Management credit traders left in recent weeks, as the firm scales back after its biggest hedge fund had the worst monthly loss since 2008 in June, two people with knowledge of the matter said.
Wayne Leslie departed less than a year after joining the London-based hedge fund from Goldman Sachs Group, said the people, who asked not to be identified because the departures haven't been made public; Jason Feasey joined the hedge fund from Bank of America Corp. in 2011.
At least a dozen traders have left Brevan Howard since the end of May.
The Master Fund, which accounts for more than two-thirds of Brevan's $40 billion of assets under management, fell 2.9% in June, its worst month since September 2008. The pool declined another 0.9% in July, cutting gains for the year to 3%, a performance report obtained by Bloomberg News shows.
That compares with an average loss of 0.95% for macro hedge funds, according to Hedge Fund Research. Hedge funds broadly have risen 4.8% in 2013, Hedge Fund Research data show.
Mr. Feasey didn't respond to messages left on his mobile telephone. Mr. Leslie didn't reply to e-mails seeking comment. Officials at Brevan Howard declined to comment.