Key Takeaways
- • Millennium Management is reportedly set to hire Max Witcher, a senior equity derivatives trader at Balyasny Asset Management, to lead a new investment pod in London, according to eFinancialCareers.
- • Witcher specialises in delta one trading and worked within portfolio manager Dan Avery's team at Balyasny; FCA records show his Balyasny registration ended in July, though his Millennium appointment has not been formally confirmed.
- • Witcher previously held roles at LMR Partners, JPMorgan and Goldman Sachs, and was briefly registered with Millennium in 2020 before moving to LMR.
- • The reported move reflects continued competition among multistrategy hedge funds for equity derivatives talent focused on index rebalancing, ETF arbitrage, dividend trading and equity financing.
- • Millennium declined to comment, while Balyasny and Witcher did not respond to requests for comment; Avery remains at Balyasny.
Summary
Millennium Management is reportedly set to hire Max Witcher, a senior equity derivatives trader currently at Balyasny Asset Management, to lead a new investment pod in London, according to a report by eFinancialCareers. The appointment has not been formally confirmed.
Witcher specialises in delta one trading and is understood to have left Balyasny, where he worked within the investment team of portfolio manager Dan Avery. UK Financial Conduct Authority records show that Witcher's registration with Balyasny ended in July. Avery, whose pod is understood to be among Balyasny's stronger performers this year, remains with the firm.
Before joining Balyasny, Witcher held positions at LMR Partners, JPMorgan and Goldman Sachs. He was also briefly registered with Millennium in 2020 before moving to LMR.
The reported move comes as multistrategy hedge funds continue to compete for experienced equity derivatives specialists, particularly those focused on index rebalancing, ETF arbitrage, dividend trading and equity financing. Demand for delta one expertise remains strong even as some large platforms reduce exposure to underperforming macro and credit strategies.
Millennium declined to comment on the reported appointment, while Balyasny and Witcher did not respond to requests for comment.
Witcher specialises in delta one trading and is understood to have left Balyasny, where he worked within the investment team of portfolio manager Dan Avery. UK Financial Conduct Authority records show that Witcher's registration with Balyasny ended in July. Avery, whose pod is understood to be among Balyasny's stronger performers this year, remains with the firm.
Before joining Balyasny, Witcher held positions at LMR Partners, JPMorgan and Goldman Sachs. He was also briefly registered with Millennium in 2020 before moving to LMR.
The reported move comes as multistrategy hedge funds continue to compete for experienced equity derivatives specialists, particularly those focused on index rebalancing, ETF arbitrage, dividend trading and equity financing. Demand for delta one expertise remains strong even as some large platforms reduce exposure to underperforming macro and credit strategies.
Millennium declined to comment on the reported appointment, while Balyasny and Witcher did not respond to requests for comment.
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