Macro specialist Capula Investment Management has added Point72 veteran rates trader Vinay Dhanuka to its London operation, as competition for top-tier portfolio managers intensifies across the hedge fund industry, according to a report by Financial News London.

Dhanuka, who joins as a macro PM, spent the past four years at Point72 and previously served as HSBC’s head of G10 rates trading. His nearly 30-year career also includes senior roles at Morgan Stanley — where he ran sterling rates trading — and Goldman Sachs.

Capula’s move comes amid a wider talent arms race, with multi-manager platforms and macro funds aggressively recruiting senior bank traders. Recent high-profile moves include Goldman’s Wajih Ahmed joining Balyasny, and BlueCrest hiring BNP Paribas’ G10 rates head Francois Puget.

Founded in 2005 by Yan Huo and Masao Asai, Capula employs more than 400 staff across seven global offices.