Millennium Management, the $36 billion multi-strategy hedge fund managed by Israel Englander, is having a personnel crisis. This year there has been a stream of departures from the firm after one of its star traders left to set up his own shop.
Earlier this year, Millennium trader Michael Gelband launched ExodusPoint, which now manages $8 billion and has been hoovering up employees from other hedge funds across the industry. It employs roughly 125 staff, many of whom have been recruited from Millennium itself, according to reports.
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