Jefferies hired a rates trading MD who left a hedge fund

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Jefferies hired a rates trading MD who left a hedge fund

In a further sign that rates traders are flavour of the year, Jorge Deza Neira has joined Jefferies' as a managing director and rates trading. Previously, Deza Neira was a portfolio manager at Millennium and left the hedge fund in December 2021 after a two-year stint. Prior to Millennium, Neira was a government bond trader at Citi and began his career at Santander. 

It's unclear whether Neira is based in Madrid or in London. - While his LinkedIn profile states he's in Madrid, he's listed on Bloomberg as being based in London, and Neira didn't respond to a request to comment. Although Madrid is Spain's financial hub, it doesn't have the reputation of London and Paris as European trading hubs. Jefferies, however, has been bolstering its investment banking coverage in Spain and Portugal and are currently advertising an off-cycle IBD internship in the region. Unsurprisingly, Jefferies' head of investment banking for Iberia is also based in Madrid.

While sell-side analysts and associates often dream of progressing to the buy-side  with pod shops such as Millennium, Citadel and Point72 the holy grail of hedge fund hiring, longevity at big multi-strategy funds can be limited, and career moves at the managing director level are in any case less linear. Neira is not the only ex-Millennium employee now working as an MD at Jefferies. Angelo A. Liberatore has ended up as a strategist in merger arbitrage, M&A and antitrust at Jefferies having previously held the same role at Credit Suisse after three years as a co-PM at Millennium. Kazuhiro Mukaidono was a Japanese equity and derivatives PM at Millennium before ending up as Head of Japan Index trading at Jefferies following a five-year stop at Societe Generale.

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