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Millennium's (alleged) $50m man joined London's top new hedge fund

Stefan Ericsson has reappeared. Two years after leaving Citadel to join Millennium on an alleged $50m package (said the New York Times), Ericsson has in fact joined Taula Capital in London. Taula is not Millennium, but it's not not Millennium either. Taula's founder is Diego Megia, a former Millennium senior portfolio manager. Megia employs 25 other people from Millennium (says Bloomberg); $3bn of Taula's $5bn in launch capital comes from Megia's former employer.

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Ericsson is Megia's main man. Megia is Taula's CIO (chief investment officer); Ericcson is his deputy CIO. It's not clear whether Ericsson is still getting the (alleged) $50m Millennium was said to offer him to leave Citadel. Neither Megia nor Ericsson responded to a request to comment.

Either way, Megia seems to be a popular boss. Sources say he's a respected manager of trading teams, having built them in the past at both Citadel and Millennium, that he's meritocratic and focused on collaboration.  He's hired 68 people in total, of whom 43 are not from Millennium. 

Those 43 hires include recruits from rival hedge funds and from banks, some of whom have only joined Taula recently. Kevin Quinlan, Taula's head of treasury - for example - spent nine years in fixed income sales at Goldman Sachs in London until May 2024. Alan Huynh, the head of data and software engineering, just joined from Balyasny. Head of data and analytics, Tristan Alasoeur came from Schonfeld two months ago. 

London isn't Taula's only office. There are around 26 employees registered in the City with the Financial Services Authority (FCA). The remaining 42 are in Jersey, New York, Dubai, Milan and Switzerland. Most of those employees haven't had two years out of the market like Ericsson, but maybe they didn't have his non-compete. 

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AUTHORSarah Butcher Global Editor

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