The firm has closing its operation in London.

New York-based firm Saba Capital Management, known for its winning bet against the JP Morgan trader known as the London Whale, is closing its office in Mayfair, London, according to Reuters.

The $1.8 billion firm will reportedly move its European trading operations to New York, becoming the second US fund firm to do so this year after Goldman Sachs Investment Partners.

Reuters said the reason for the move is not clear, but it comes as the UK is trying to strike a deal with its European counterparts ahead of its departure from the European Union. It was also reported that it is not clear whether the three employees at the London office currently registered with the British regulator will relocate to the US.

Saba has had an office in London since 2012, according to the Financial Conduct Authority.

There have been a number of firms looking to move its operations from London after Brexit, including Nomura Holdings, which was tight-lipped when asked by this publication whether it has decided to make German city Frankfurt, the headquarters of its European operations post-Brexit.