If you're an emerging markets trader in search of something new and exciting, you might want to hit-up Uberto Palomba, an EM trader with a long pedigree. Palomba is about to start something new and we understand that he will be looking for a few people to join him.
Palomba's new gig is at Millennium Management, the hedge fund portfolio managers like to work for because they get to operate independently and to keep the profits their team makes without having to subsidize loss-making colleagues in other areas. We've known Palomba was going to Millennium since last November, but now it's about to become a reality - he's starting on Monday.
Palomba declined to comment for this article and Millennium didn't immediately respond to a request for feedback, but Palomba is understood to be hiring at least four people for his new emerging markets-focused fund. They will include a trader or junior portfolio manager, a senior portfolio manager and an economist.
Millennium Capital Partners (Millennium Management's London operation) employs around 90 registered people according to the UK Financial Conduct Authority. Globally, the fund is growing. In the past two years it added 650 people including 20 new portfolio managers (with their own new fund ideas, like Palomba).
Palomba began his trading career at Morgan Stanley in 2005 before moving to Goldman Sachs in 2007, where he spent nearly seven years as a managing director (MD) and a year as a co-head of EMEA emerging market trading. Palomba spent the last four years at Citadel, where he was a portfolio manager in fixed income and global head of emerging markets.
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