Hedge fund manager Brevan Howard named Colleen Sullivan, a co-founder and former CEO of CMT Digital, to lead its investments in crypto. She will join Brevan Howard shortly, the firm said in an email Monday.
- Sullivan stepped down as CEO of CMT Digital, the investment arm of Chicago proprietary trading firm CMT Group, last month.
- Brevan Howard is also forming a new crypto-focused division called BH Digital.
- It was reported in April that the fund manager was planning to allocate up to 1.5% of its main fund (worth $5.6 billion at the time) to direct exposure in cryptocurrency.
- CMT Digital had invested in several large crypto firms, such as crypto derivatives platform ErisX, crypto lender BlockFi, crypto-friendly Silvergate Bank and crypto venture capital pioneer Polychain Capital.