Mar 23, 2023
Millennium Doubles Paris Staff as City’s Financial Center Grows
(Bloomberg) -- Hedge fund Millennium Management has roughly doubled its employees in Paris in the past year and plans to keep expanding, the latest example of the city’s growing financial heft.
The firm now has approximately 50 staff in the French capital, most of whom are investment professionals such as portfolio managers, including quants, or are in related investment roles, according to a person familiar with the matter who isn’t authorized to speak publicly. Millennium is also growing in London, the person said.
Paris is emerging as the European Union’s main trading hub after regulators pressed Wall Street banks to increase their presence in the bloc after Brexit. Hedge funds are also moving in with ExodusPoint Capital Management able to conduct trading and portfolio management in the city, according to a person familiar with the matter. Citadel has also been beefing up its presence.
Bloomberg News reported last year that Millennium had taken a lease on a building in central Paris that can house up to 100 staff. Representatives for ExodusPoint and Millennium declined to comment.
Read More: Paris Wants to Become the Mayfair of Europe for Hedge Funds
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