Key Takeaways
- • Walleye, a $13 billion AUM multistrategy hedge fund, hired Greg Bugaj, a portfolio manager from Eisler Capital who spent only 11 months at that firm before the move to New York.
- • Gunnar Tyler Henning, a former Nomura options trader, departed Walleye after less than a year, underscoring persistent personnel volatility at the fund.
- • Eisler Capital, which is winding down operations after distributing substantial exit packages, continues to see its talent redeployed across the hedge fund industry; Andrew Benito, Eisler's former head of research and Goldman Sachs managing director, joined Point72 as an economist in London.
- • Walleye has experienced significant organizational churn in 2025, including the closure of its credit and commodities team in May and earlier departures from its London office, including the former head of EMEA.
- • Staff turnover at multistrategy hedge funds remains endemic, with Bugaj now at his seventh buyside employer since 2008, reflecting the industry's structural instability and talent competition.
Summary
Walleye Capital, a multistrategy hedge fund managing approximately $13 billion in assets, continues to experience substantial personnel movements characteristic of the broader hedge fund industry. The fund recently hired Greg Bugaj, a portfolio manager from Eisler Capital, to its New York office. Bugaj's tenure at Eisler was notably brief—just 11 months—before joining Walleye, which marks his seventh buyside position since 2008.
The hiring comes as Walleye grapples with ongoing organizational turbulence. The fund closed its credit and commodities team in May 2025, and previously experienced significant departures from its London office, including the exit of the head of EMEA who had been recruited to expand regional operations. This pattern of change reflects broader dynamics within multistrategy funds, which typically experience consistent staff transitions across their platforms.
Concurrent with Bugaj's arrival, Gunnar Tyler Henning, a former Nomura options trader, departed Walleye after spending less than a year at the firm. His exit further illustrates the high churn rate characterizing the hedge fund sector.
Eisler Capital, the source of Bugaj's hire, remains in wind-down mode following its decision to distribute substantial separation packages to departing employees despite generating returns insufficient to justify such outlays. Beyond Bugaj's relocation to Walleye, other Eisler personnel are finding positions at competing firms. Andrew Benito, who served as Eisler's head of research and previously held the rank of managing director at Goldman Sachs, has joined Point72 as an economist based in London. These placements underscore how institutional knowledge and talent from distressed or contracting hedge funds disperse across the competitive landscape, with established funds strategically acquiring proven portfolio managers and research leadership.
The hiring comes as Walleye grapples with ongoing organizational turbulence. The fund closed its credit and commodities team in May 2025, and previously experienced significant departures from its London office, including the exit of the head of EMEA who had been recruited to expand regional operations. This pattern of change reflects broader dynamics within multistrategy funds, which typically experience consistent staff transitions across their platforms.
Concurrent with Bugaj's arrival, Gunnar Tyler Henning, a former Nomura options trader, departed Walleye after spending less than a year at the firm. His exit further illustrates the high churn rate characterizing the hedge fund sector.
Eisler Capital, the source of Bugaj's hire, remains in wind-down mode following its decision to distribute substantial separation packages to departing employees despite generating returns insufficient to justify such outlays. Beyond Bugaj's relocation to Walleye, other Eisler personnel are finding positions at competing firms. Andrew Benito, who served as Eisler's head of research and previously held the rank of managing director at Goldman Sachs, has joined Point72 as an economist based in London. These placements underscore how institutional knowledge and talent from distressed or contracting hedge funds disperse across the competitive landscape, with established funds strategically acquiring proven portfolio managers and research leadership.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.