Portfolio Manager – London

Overview

In this role you will manage a significant capital allocation within a research-driven framework across macro and relative value strategies. You will work within a collaborative trading environment to implement disciplined risk controls and optimize trade structuring with multiple teams. You help translate macro developments and policy signals into differentiated, risk-adjusted returns across rates, FX, and related instruments. This is an opportunity to contribute to Capula’s macro and relative value perspective while advancing your autonomy and impact. You will be part of a high-performance culture that values insight, cross-team collaboration, and continuous strategy refinement.

Pay / Benefits

• highly competitive base salary with discretionary bonus
• 20 days paid leave plus public holidays
• medical and dental insurance
• training, mentoring and staff development opportunities
• flat and agile organisational structure enabling ownership
• onsite meals and gym facilities

Responsibilities

• Develop and execute discretionary and systemic macro and relative value strategies across global markets, focusing on rates, FX and related instruments
• Identify thematic and relative value opportunities driven by macro fundamentals, central bank policy and market dislocations
• Actively manage portfolio risk within a disciplined framework including position sizing, liquidity and drawdown management
• Collaborate with trading, research and risk teams to optimize trade structuring and implementation across swaps, futures, options and sovereign bonds
• Continuously refine strategies in response to evolving market conditions and economic developments
• Communicate portfolio positioning, performance and risk exposures to internal stakeholders
• Contribute to the broader investment platform through idea generation, market discussion and cross-team collaboration

Key requirements

• Proven track record of alpha generation within macro and/or relative value strategies with strong risk management discipline
• Deep understanding of global macroeconomics, monetary policy and cross-asset relationships
• Strong execution capability across developed and emerging market rates and FX products
• Clear, repeatable investment process with the ability to manage capital autonomously
• Collaborative mindset and ability to contribute effectively within a team-oriented investment environment

• collaborative mindset
• clear communication
• team-oriented approach
• macro and relative value strategy development
• rates and FX trading across developed and emerging markets
• risk management and capital allocation

…