Millennium hires Capula president for senior fixed-income role

• John Naud has left his role as president at Capula and is joining Millennium.
• He is expected to start next year and take a senior role in the fixed-income division.
• Millennium recently separated its fixed-income and commodities groups.

Millennium Management has hired a senior executive from Capula Investment Management for its recently reorganized fixed-income division.

According to people familiar with the situation, John Naud, president and partner at $27 billion Capula, is expected to join Izzy Englander’s Millennium in 2024.

According to the sources, Naud will take a senior position in the hedge fund’s fixed-income division. Millennium recently divided its fixed-income and commodities businesses, naming sole leaders for each.

Millennium and Capula representatives declined to comment.

Naud will reunite with and report to Richard Mazzella, the new head of the fund’s fixed-income group, at the $60 billion Millennium. Both executives were previously employed by Citadel and JPMorgan.

Naud joined Capula in 2020 after serving as deputy CEO at macro hedge fund Rokos Capital for two years and nearly a decade at Citadel, where he rose to COO of global fixed income.