Macro hedge fund Taula Capital Management has recruited a seven-person trading team from key backer Millennium Management, underscoring founder Diego Megia’s continued build-out of the firm’s trading capabilities, according to a report by Bloomberg.

The group, led by Greg Knight, is based in Jersey and focuses primarily on foreign exchange, while also trading interest rates, according to people familiar with the matter. The hires were made with Millennium’s consent, one source said.

Millennium and Taula both reportedly declined to comment.

Megia, a former Millennium portfolio manager, launched Taula in 2024 in one of the hedge fund industry’s largest-ever debuts, with Millennium backing the launch with around $3bn. As a result, Knight’s move does not sever Millennium’s economic interest in the trading operation, despite the team’s relocation.

Taula’s assets have grown rapidly since inception and are now estimated at about $7.6bn. The firm trades across macro, fixed-income relative value and inflation-linked strategies, and has been actively adding senior talent in recent months. Recent hires include Richard Hughes, formerly chair of the UK’s Office for Budget Responsibility, as well as Alfredo Saitta from Brevan Howard Asset Management.