Hedge Fund Movers

Hedge Fund Millennium Loses Three Energy Traders and an Analyst

Four energy professionals, including two senior natural gas traders, are leaving Millennium Management LLC, according to Bloomberg Jeffrey Nietschmann and Dale Gibbard, both senior portfolio managers with expertise in natural gas, along with crude trader Kristen Procinsky, are departing the firm Additionally, Tackin Tarighian, a natural gas analyst, is also leaving. The individuals requested anonymity because the information is confidential.

Hedge funds have increasingly invested in commodities in recent years as profits in the sector surged, driven by heightened market volatility, particularly after Russia's 2022 invasion of Ukraine. Millennium, led by Izzy Englander, earned approximately $600 million from commodities investments last year, with natural gas contributing more than half of those profits.

Rokos Capital Management appoints new CEO

Rokos Capital Management, the London based global macro hedge fund founded by Chris Rokos, has named Matthew Sebag-Montefiore as its new Chief Executive Officer, according to a Bloomberg report. The report, which references an investor letter seen by Bloomberg News, confirms that Sebag-Montefiore will assume the CEO role, pending regulatory approval. This position has been vacant since the departure of former CEO Mark Edwards earlier this year.

Rokos Capital Management, which oversees $17.9 billion in assets, has achieved a remarkable 20.6% gain so far this year, significantly outperforming the average 6.1% return for macro hedge funds tracked by Bloomberg, according to unnamed sources familiar with the firm's performance. Sebag-Montefiore joined Rokos Capital Management in 2018 as chief strategy officer and took on the role of interim chief operating officer in March.

Citadel adds two former Segantii staff

Citadel has hired two former employees of Segantii Capital Management, Andrew Pidgeon and Peter Christie following the hedge fund's closure, according to a report by eFinancial Careers .

Pidgeon, who was Segantii's head of treasury and financing for seven years in Hong Kong, has joined Citadel as the APAC Head of Treasury. Prior to his time at Segantii, Pidgeon was a director at Credit Suisse, specializing in delta one and derivatives trading.

Christie, a support engineer and US Navy veteran who spent 13 months at Segantii, has also joined Citadel, taking up a role in New York focused on end user support.

Former Squarepoint and Walleye PM returns to banking roots

Equity derivatives trader. Former Squarepoint and Walleye PM returns to banking roots who spent a decade at Credit Suisse, is returning to the sell side with a new role at BNP Paribas in New York, following his time at hedge funds Squarepoint Capital and Walleye, according to eFinancial Careers.

Marsh joined Squarepoint, a New York-based quant firm, as a portfolio manager in 2022 and remained there for 19 months before transitioning to Walleye, a smaller multi-strategy fund. His stint at Walleye was short-lived, ending in May 2024, just months after the fund reportedly laid off about a dozen employees, including equities specialists like Michael Martin, Lawrence Hurvich, and Jerry Siliverdes.

It is believed that Marsh was among those affected by the layoffs at Walleye. BNP Paribas has now appointed Marsh as a Director in equity derivatives trading.