Key Takeaways
- • Robert Sicari, a former Brevan Howard Asset Management portfolio manager, is accused in a New York complaint of withholding millions of dollars in promised trading profits from a former colleague.
- • Wooyoung Hong, a quantitative researcher who worked under Sicari at Brevan Howard, filed the complaint on Tuesday, alleging a profit-sharing arrangement tied to Sicari's new fund.
- • Both men were fired from Brevan Howard in 2024, according to the complaint.
- • Sicari approached Hong about joining ThirtyPark Capital, a fund Sicari was starting to invest his own money in.
Summary
Robert Sicari, a former portfolio manager at Brevan Howard Asset Management, has been accused of withholding millions of dollars in promised trading profits from a former colleague who later joined his new fund, according to Bloomberg. The allegations were laid out in a complaint filed on Tuesday in New York by Wooyoung Hong, who worked under Sicari at Brevan Howard as a quantitative researcher.
According to the suit, both Sicari and Hong were fired from Brevan Howard in 2024. Sicari subsequently approached Hong about joining ThirtyPark Capital, the fund he was launching to invest his own capital. The complaint centers on an alleged profit-sharing arrangement between the two men, under which Hong says he was owed a share of trading gains that Sicari did not pay out.
The filing reflects the allegations of the plaintiff and has not been tested in court. The source material available for this report is limited, and further details on the claims, any response from Sicari or ThirtyPark Capital, and the amounts at issue beyond the reported millions of dollars were not available in the reporting reviewed.
According to the suit, both Sicari and Hong were fired from Brevan Howard in 2024. Sicari subsequently approached Hong about joining ThirtyPark Capital, the fund he was launching to invest his own capital. The complaint centers on an alleged profit-sharing arrangement between the two men, under which Hong says he was owed a share of trading gains that Sicari did not pay out.
The filing reflects the allegations of the plaintiff and has not been tested in court. The source material available for this report is limited, and further details on the claims, any response from Sicari or ThirtyPark Capital, and the amounts at issue beyond the reported millions of dollars were not available in the reporting reviewed.
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