Nagaraj Pangal, Nomura’s former Co-Global Head of FX and Emerging Markets, has resurfaced at multi-strategy hedge fund Verition, where he will run an emerging markets macro strategy as a Portfolio Manager in Singapore, according to a report by eFinancial Careers.
Pangal spent 12 years at Nomura, building a successful trading franchise, though former colleagues described him as a “hard-driving” presence. After leaving the bank earlier this year, he took the summer off before joining Verition.
At $12.6bn AUM, Verition has been expanding its presence in Asia even as it recently trimmed headcount, including cuts to its emerging markets FX trading team in Singapore. Pangal’s hire appears aimed at reinforcing that strategy.
Verition returned 2.2% in the year to July, according to Business Insider.
