Diego Megia's Millennium-Backed Hedge Fund Plans Milan Office [BNN Bloomberg (Canada)]
Bank of America Corporation (BAC)
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Source: BNN Bloomberg
Taula Capital Management, which already has established its footprint in London, New York, Dubai and Jersey, is opening a new trading outpost in Milan, people familiar with the move said, asking not to be identified discussing internal matters. A representative for Taula Capital declined to comment. The hedge fund, which is due to kick off operations this quarter, is expected to start with as much as $5 billion in capital, of which $3 billion will come from Izzy Englander's multistrategy giant Millennium, Bloomberg News has reported previously. Italy has grown in attractiveness for both foreigners and its own nationals, offering generous tax breaks including a €100,000 ($106,550) flat tax on income earned abroad. Milan in particular has emerged as the hub of choice for many financial firms, attracting hedge funds Point72 Asset Management and Capstone Investment Advisors just this year. Megia, who specializes in relative value rates trading, is among a slew of money managers l
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