Michele Beretta, a former European government bond trader at Citigroup, is reportedly leaving London-based macro hedge fund Capula Investment Management just three months after joining, according to a report by eFinancialCareers.

Beretta, who previously traded European sovereign debt at Citi in Paris, joined Capula in July. UK Financial Conduct Authority records show his registration with the firm's London entity ended on 15 October, although he is understood to remain employed by the hedge fund.

Beretta joined a trading team led by Andrea Casulli, a former Goldman Sachs and UBS rates trader, whose FCA registration with Capula ended in July 2026.

The reported departure comes amid a challenging period for European macro hedge funds, with several former investment bank government bond traders leaving buy-side roles.

Capula declined to comment on Beretta's departure, while Beretta did not respond to a request for comment.

Separately, Capula's London partners received average remuneration of £7.8m in the financial year ended March 2025, down from £10.5m a year earlier. Average employee remuneration stood at £435,000.