(Bloomberg) — Alfredo Saitta, who until last year managed a hedge fund named after himself at Brevan Howard Asset Management, is set to join Diego Megia’s investment firm.
Saitta will start trading for Taula Capital Management on Aug. 1, according to people with knowledge of the appointment. He is joining as a portfolio manager at the London-based hedge fund, the people said, asking not to be identified discussing hiring.
Megia, a former senior money manager at Millennium Management, is bolstering his teams of traders after notching one of the largest ever hedge fund launches last year. He raised $5 billion including money from Millennium, Bloomberg News reported in June, before reopening the fund to add another $1 billion.
Taula has made 7.5% since its launch on June 1, one of the people said, compared with the average 3.8% returned by hedge funds tracked by Bloomberg during the same period.
A representative for Taula declined to comment.
Brevan Howard shuttered Saitta’s hedge fund last year as part of a firm-wide restructuring and after his money pool lost 4.9% during the first quarter of 2024.
Saitta was one of several traders at Brevan Howard running eponymous funds as part of the firm’s talent retention strategy to give star traders their own pots to manage. He oversaw a total of $1.8 billion, including large allocations from Brevan Howard’s Master and Alpha Strategies funds.
Saitta returned an annualized 5.2% since his fund’s inception in 2017.
Megia joined Millennium in 2019 after a stint at Citadel, where he had been hired in 2017 to lead and build out a global government bond trading team. His own investment firm Taula focuses on macro, fixed-income relative value and inflation-risk trading.
Taula also hired former Citadel executive Robert Featherstone, who will join as the head of business and talent development in the fourth quarter, one of the people added.
More stories like this are available on bloomberg.com