LONDON, Jan 27 (Reuters) - Richard Hughes, the former head of Britain's fiscal watchdog, has been hired by an investment fund manager as senior economic adviser, a source familiar with the matter told
Former UK Fiscal Watchdog Chief Joins Taula Capital as Economic Adviser
Richard Hughes' New Role at Taula Capital
LONDON, Jan 27 (Reuters) - Richard Hughes, the former head of Britain's fiscal watchdog, has been hired by an investment fund manager as senior economic adviser, a source familiar with the matter told Reuters, marking his first move into the private sector since stepping down.
Background on Richard Hughes
Hughes will join London-based Taula Capital Management on a full-time basis to work with its investment team on the macroeconomic outlook and links between fiscal, monetary and broader economic policy, the source said.
Taula Capital Overview
Taula declined to comment on Hughes' appointment. Hughes could not immediately be reached for comment.
Implications of Hughes' Appointment
Founded in 2023 by Diego Megia, a former senior trader at hedge fund Millennium Management, Taula oversees about $7.6 billion of assets and focuses on macro, fixed-income relative value and inflation-risk strategies.
Bloomberg first reported Hughes' move.
Hughes, who led the Office for Budget Responsibility for five years, resigned in December after the agency inadvertently published key details of the government's November 26 budget almost an hour before finance minister Rachel Reeves delivered it in parliament – the second such early release in 2025.
The lapse triggered criticism from lawmakers and prompted an investigation that pointed to longstanding IT failings and weaknesses in internal oversight.
Hughes said at the time he took responsibility for the shortcomings identified in the inquiry.
The mistaken early publication allowed the OBR's forecasts – including details of 26 billion pounds ($36 billion) in tax increases – to be public as Reeves delivered her speech.
Reuters was first to report the contents of the OBR assessment after it became publicly accessible online, and similarly reported an early release of the watchdog's March 2025 fiscal update.
($1 = 0.7279 pounds)
(Reporting by Sam Tabahriti. Editing by Mark Potter)
