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Now a Barclays MD quit for Millennium before bonuses

Millennium, the hedge fund founded by Israel Englander, is still poaching bank MDs – and not just JPMorgan ones - before bonus are paid.

Cagdas Aksu joined Millennium this month after over 18 years at Barclays. He was most recently an MD and head of Barclays’ head of European Rates Strategy. He is based in London.

Millennium declined to comment on Aksu's arrival. However, it's thought that he's joining an investment pod rather than the central strategy team that hired JPMorgan MD Jack Yang earlier this month.

Aksu isn’t Millennium's only hire. Ivan Chee, a quantitative researcher joined the fund as a senior portfolio manager after six years at Squarepoint, the quant fund. He joins Millennium in New York.

Baptiste Portenard, meanwhile, joined the fund’s Paris office as a quantitative analyst after nearly five years with Morgan Stanley, where he worked on delta one projects (derivatives). He was based in London for the bank.

Millennium was the second most successful hedge fund in the world in 2022, after Ken Griffin’s Citadel, netting a huge $8bn for investors to Citadel’s $16bn. Don’t despair, though – the pay is still enormous, even when you come second.

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AUTHORZeno Toulon
  • ph
    1 February 2023

    I wonder how some of these poached eggs will stick around once they realize how much incompetence they will encounter, IMHO, in some areas.

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