Dymon Asia, a Singapore-based hedge fund, has hired Sai Poddutur from Balyasnys Asset Management to set up a new trading pod in Dubai, according to a person familiar with the matter.
New Hire and Role
Poddutur, who previously worked at Balyasnys as a portfolio manager, will join Dymon Asia to lead the firm's expansion into the Middle East. The move is part of Dymon Asia's broader strategy to diversify its geographic footprint and tap into the region's growing investor base.
Dubai Trading Pod
The new Dubai-based pod will focus on trading Asian equities and derivatives, leveraging Poddutur's expertise in the region. Dymon Asia, which manages about $3.5 billion in assets, aims to strengthen its presence in the Middle East, where it sees significant opportunities for growth.
Industry Context
The hiring comes as several hedge funds are expanding into Dubai, attracted by the city's favorable regulatory environment and access to capital. Dymon Asia's move underscores the trend of Asian hedge funds establishing a foothold in the Middle East to cater to local investors and diversify their operations.
According to the source, Poddutur's appointment is expected to be announced formally in the coming weeks. Dymon Asia declined to comment on the hire.
