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Izzy Englander’s $11 billion hedge fund, Millennium Management, “hired a proprietary- trading team formerly at Bank of America,” Bloomberg reports.An eight-person team headed by Linus Wright, and which was part of the bank before the Merrill acquistion, begin at Millennium in London in August.
“Englander said in November that it was the best time in 15 years to hire traders as banks shuttered their proprietary- trading businesses to comply with U.S. financial legislation,” according to Bloomberg.
While Wright’s team left BofA in April, another prop desk headed up by Scott Brown, was shut down in June. Others going to Millenium include Paul Cloke, Suketu Shah and Stephanie Allen.