Citi MD relegated during restructuring resurfaces at desirable hedge fund

If you're looking for an example of forbearance in the face of career setbacks, Tom Fitzpatrick the former Citi managing director, who left during the restructuring of 2023, is it.

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Fitzpatrick spent nearly four decades at Citi in New York and was latterly the US bank's global head of FX technicals. When Citi let him go in mid-2023, Fitzpatrick declared that his "passion for the markets" was still strong and that he was taking time to consider his next move. He subsequently reappeared offering market insights from New York at London-based brokerage firm R.J. O'Brien, which seemed a step-down after his time at Citi. 

Less than two years after joining R.J. O'Brien, though, Fitzpatrick is back in the big league. He's just joined London hedge fund Taula Capital as a technical strategist, based in New York. Founded by Diego Megia, the ex-Citadel and Millennium portfolio manager, Taula's macro focused platform has emerged as a popular place to work. Other recent hires include Jacob Gordon, an MD from Goldman Sachs who joined in New York as head of market strategy and Alfredo Seitta, who joined in January from Brevan Howard. 

Sources say that Megia is seen as a good and fair boss, which can be unusual at some hedge funds. Taula manages $6.5bn in assets, making it larger than Jain Global.