A partner at Paul Tudor Jones’ Tudor Investment Corp. is planning to leave to start his own venture.
Dario Villani is planning to launch a New York-based business, people familiar with the matter told Business Insider.
Exactly what it will be remains unclear. Villani and a spokesman for Tudor declined to comment.
Villani has worked at Tudor since May 2015, and has been a partner and global head of portfolio strategy and risk at Tudor since October of last year, according to a LinkedIn page.
He previously held roles at hedge fund firms Hutchin Hill and BlueCrest Capital, as well as Deutsche Bank, according to his profile.
Tudor’s flagship BVI Global fund is down 2.3% this year through July 21, according to HSBC data. The firm’s Discretionary Macro fund is down 3.2% through July 21, according to HSBC.
Tudor has been losing assets for some time.
Connecticut-based Tudor managed $10 billion at the start of the year, a 22% drop from a year prior, according to the HFI Billion Dollar Club ranking. Bloomberg reported earlier this month that the firm had been hit with redemptions and that firmwide assets now stand at around $8 billion.