Michael M. Takata was named managing director at Pequot Capital Management, a new position. He will assist Art Samberg, Pequot chairman and CEO, in managing the firm's core hedge fund portfolios. Mr. Takata was a founder and general partner of hedge fund manager Ulysses Partners; information about his replacement there was not available. Ramu Thiagarajan was named a principal at Pequot, also a new position. He will join Pequot's research team and assist in expanding the firm's investment strategies. Mr. Thiagarajan was a managing director of enhanced equity strategy at Mellon Capital, where he was responsible for all domestic and international stock selection strategies. Joe Ailinger, a Mellon spokesman, said a search being conducted for a replacement.