Bank of America’s ex-head of FICC trading has joined Capula Investment Management
David Sabotka, who retired from his role as head of global fixed income, currencies and commodities at Bank of America Merrill Lynch in November, has now re-emerged at fixed income-focused hedge fund Capula Investment Management.
Sabotka joined Capula operation earlier this month, according to filings on the UK Financial Conduct Authority register. He has taken the role of head of macro trading, according to his public profiles.
When Sabotka left BAML in November, he said he intended to take time out before deciding on his next move. Like many senior traders from investment banks before, he’s opted to switch across to a potentially lucrative role in a hedge fund
“I am proud to have been a part of the evolution of our FICC business,” Sobotka said in a memo, seen by The Wall Street Journal at the time of his departure from BAML. “While I look forward to the future, I will miss working with all of you very much.”
What’s not clear is where Sabotka will be based. Capula’s main operation is in London, but Sabotka’s LinkedIn profile suggests that he’s still based in the U.S. Given his other commitments – he also serves on the Board of Harlem RBI, a youth development organization East Harlem area – he may be joining Capula’s U.S office in Greenwich, Connecticut.
Sabotka left BAML last year after ten years working for the bank, latterly as head of FICC. BAML replaced him in December with two co-heads – Bernard Mensah and James DeMare.
Capula Investment Management was set up by former J.P. Morgan prop trader Yan Huo and has a history of tapping investment banks for new staff. 2015 has been a year of expansion for the firm – it made senior hires for both its UK and Asian operations.