Weinstein’s Saba Said to Hire JPMorgan Trader for CMBS Swaps
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Saba Capital Management LP, the hedge fund started by former Deutsche Bank AG credit trader Boaz Weinstein, hired Toby Maitland Hudson from JPMorgan Chase & Co. as the firm’s assets reach $4.1 billion, according to people familiar with the hire.
Maitland Hudson, who started at Saba in New York last month, ran JPMorgan’s proprietary trading of derivatives tied to commercial-mortgage bonds and will focus on relative value trades, according to the people, who declined to be identified because it hasn’t been publicly announced. Maitland Hudson joined JPMorgan in June 2008 from Bear Stearns Cos. after the bank was forced to sell itself amid a funding squeeze, according to records from the Financial Industry Regulatory Authority.