From mint · · 1m 10s
Ex-Brevan Howard Trader Sued by Quant Who Joined His New Fund
Ex-Brevan Howard trader Robert Sicari sued by former colleague who joined his new fund.
In brief
Ex-Brevan Howard trader Robert Sicari sued by former colleague who joined his new fund. Former Brevan Howard quant Wooyoung Hong claims ex-portfolio manager Robert Sicari withheld $3.5 million in promised trading profits from his new fund. Originally reported by mint.
Ex-Brevan Howard trader sued
Ex-Brevan Howard portfolio manager Robert Sicari accused of withholding millions in promised trading profits from former colleague.
“Ex-Brevan Howard trader Robert Sicari was accused of withholding millions of dollars in promised trading profits from a former colleague who joined his new fund”
Former colleague joined new fund
Wooyoung Hong, ex-quantitative researcher at Brevan Howard, joined Sicari's ThirtyPark Capital after both were fired in 2024.
“Wooyoung Hong, who worked under Sicari at Brevan Howard as a quantitative researcher, said in a complaint filed Tuesday in New York that they were both fired from that firm in 2024”
Promised profit share
Hong claims Sicari promised 50% of gains from trades and a 30% stake in ThirtyPark Capital.
“Hong claims Sicari promised to pay him 50% of the gains from certain trades and give him a 30% stake in ThirtyPark”
Claimed $3.5 million owed
Hong estimates $3.5 million for trades handled from November 2024 to December 2025.
“Hong estimates that he’s entitled to as much as $3.5 million for trades he handled from November 2024 to December 2025”
Sicari changed terms
Sicari proposed $400,000 cash payment and 30% profit share vesting over time in January.
“he proposed that Hong instead accept a $400,000 cash payment and a 30% profit share that would vest over time”
Hong paid $20,000
Hong received only $20,000 for his year of work at ThirtyPark Capital.
“Hong says he was only paid $20,000 for his year of work at ThirtyPark”
Case filed in New York
Hong v Sicari case filed in New York State Supreme Court, New York County.
“The case is Hong v Sicari, New York State Supreme Court, New York County”
The key point
Former Brevan Howard quant Wooyoung Hong claims ex-portfolio manager Robert Sicari withheld $3.5 million in promised trading profits from his new fund.
