Monaco welcomes Millennium Management: Principality reinforces status as financial hub
Millennium Management has established itself as a major player in global alternative investment / Photo Unsplash
In a new strategic move that reaffirms Monaco’s enduring appeal to global financial heavyweights, American hedge fund Millennium Management is preparing to launch a new trading operation in the Principality.
According to Bloomberg, Ziad Kerbage, recently with Maven Securities, will become Millennium’s first portfolio manager based in Monaco. His first task will be to assemble a local team to develop the firm’s operations in the Principality. Sources cited by the US news agency indicate that the company has already begun the process of securing local regulatory approvals.
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Kerbage, who joined Maven in 2018 following stints as a trader at JPMorgan Chase & Co. and Morgan Stanley, brings extensive financial expertise to the new strategic role.
Monaco, a natural home for top-tier finance
The move forms part of a broader trend. The Principality has long attracted the upper echelon of international finance. Goldman Sachs Group Inc. opened an office in Monaco in early 2022, while hedge fund Caxton Associates also maintains a presence.
Founded in 1989 by billionaire Izzy Englander, Millennium Management has emerged as a leading force in the world of alternative investment, now managing close to 75 billion US dollars in assets. According to LCH Investments, the firm was among the most profitable hedge funds of 2024, posting gains of approximately 9.4 billion US dollars. Millennium employs more than 340 trading teams.
The firm’s philosophy is built on evolution, innovation and focus, with the mission of delivering high-quality returns to its investors. Millennium seeks to empower talented professionals to pursue a variety of investment strategies across sectors, asset classes and geographic regions.
According to Bloomberg, the company sometimes chooses locations based on its traders’ personal preferences — which may help explain their latest move to the Côte d’Azur.