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(Bloomberg) -- Alan Howard, the billionaire co-founder of Brevan Howard Asset Management, moved back to London from Geneva this past weekend, according to a person with knowledge of the matter.

Howard had managed money from his eponymous firm’s Geneva office for more than seven years and moved back for family reasons, said the person, who asked not to be named because the information isn’t public. A spokesman for the company, which managed $7.6 billion as of the end of June, declined to comment. The Wall Street Journal reported the move earlier Monday.

Howard, 53, has seen the fortunes of his hedge-fund firm decline after years of poor performance. Brevan Howard’s flagship fund just suffered its worst first-half decline since it began trading in 2003, though it has recovered some of those losses since then. Hedge funds following economic trends have struggled to perform due to monetary easing and a lack of volatility in financial markets.

To contact the reporter on this story: Suzy Waite in London at swaite8@bloomberg.net.

To contact the editors responsible for this story: Darshini Shah at dshah165@bloomberg.net, Paul Armstrong, Neil Callanan

©2017 Bloomberg L.P.

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