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Goldman Sachs is still losing traders to hedge funds

Hedge funds have been having a great start to the year, it seems.

One of the biggest in the game, Millennium, has taken one of the biggest scalps so far this year, with Rick Vaatstra joining the fund from Goldman Sachs.

Vaatstra was with Goldman for over a decade, and was the bank’s co-head of European index trading, based in London. He’ll be a senior portfolio manager at Millennium, also based in London.

It's not easy to get a job at Millennium. Only around 1% of portfolio managers who try to enter are accepted. Nonetheless, Vaatsra is the latest recruit for Millennium, which is one of many multistrategy hedge funds hiring senior macro traders from banks.

Senior portfolio managers at Millennium have a handful of portfolio managers under their direction. One of Goldman’s top oil traders, Anthony Dewell, took the step last year. With a trader’s personal payday on the buy-side potentially reaching 30% of profit, compared to 5% at a bank, it’s hard not to see the appeal.

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Have a confidential story, tip, or comment you’d like to share? Contact: Zeno.Toulon@efinancialcareers.com in the first instance.

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AUTHORZeno Toulon

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