Walleye Capital, the multi-strategy hedge fund firm led by Chief Investment Officer Will England, is parting company with around 12 employees, including Raj Sethi, Head of Discretionary and Macro Fixed Income, according to a report by Bloomberg.

The report cites unnamed sources as confirming the departures which represent roughly 4% of the firm's overall headcount of around 340 and are part of a restructuring of the firm's operations. Walleye has hired about 60 new staff so far this year.

Sethi was appointed just last year as Walleye made a string of hires to bolster its trading capabilities. The firm has subsequently decided to pull back on discretionary macro to focus more on its better-performing systematic business, which has been one of its strongest performers over the past 18 months, according to Bloomberg's sources.