Key Takeaways
- • Paulo Costa, a 29-year-old dividend trader at Goldman Sachs, has left the bank for Millennium Management in London, according to eFinancialCareers.
- • eFinancialCareers reports, based on information it was given and not confirmed by the firms, that Millennium's inducement package for Costa exceeded $20 million.
- • Costa had been promoted to managing director only several months before his departure, a factor the publication cites as underscoring the scale of the offer.
- • The move extends a pattern of young Goldman traders moving to multistrategy hedge funds, including Wajih Ahmed to Balyasny Asset Management in 2025.
Summary
According to eFinancialCareers, 29-year-old dividend trader Paulo Costa has left Goldman Sachs for Millennium Management in London. The publication reports that the package Millennium offered to lure him may have exceeded $20 million, though it notes that neither Millennium nor Costa commented on the figure. The report is based on information the publication says it was given and has not been independently verified.
The reported size of the inducement is notable given Costa's recent career step. He was promoted to managing director at Goldman only several months before the move, and had publicly described himself as "beyond proud" of working at the bank. eFinancialCareers suggests that a package of this scale would help explain his decision to leave.
Costa worked on Goldman's dividend trading desk. Dividend traders trade dividend futures, which are exchange-traded equity derivatives that allow investors to take positions on future dividend payments. His wife works in prime brokerage at Goldman Sachs, a detail the publication includes without drawing a conclusion from it.
The publication places Costa's move within a broader trend of highly regarded Goldman traders in their twenties leaving for multistrategy hedge funds. It cites Wajih Ahmed, a 28-year-old inflation trader who left Goldman for Balyasny Asset Management last year, and Dan Avery, an index trader who became a Goldman managing director at 28, joined Millennium at 33 and moved to Balyasny four years later.
The reported size of the inducement is notable given Costa's recent career step. He was promoted to managing director at Goldman only several months before the move, and had publicly described himself as "beyond proud" of working at the bank. eFinancialCareers suggests that a package of this scale would help explain his decision to leave.
Costa worked on Goldman's dividend trading desk. Dividend traders trade dividend futures, which are exchange-traded equity derivatives that allow investors to take positions on future dividend payments. His wife works in prime brokerage at Goldman Sachs, a detail the publication includes without drawing a conclusion from it.
The publication places Costa's move within a broader trend of highly regarded Goldman traders in their twenties leaving for multistrategy hedge funds. It cites Wajih Ahmed, a 28-year-old inflation trader who left Goldman for Balyasny Asset Management last year, and Dan Avery, an index trader who became a Goldman managing director at 28, joined Millennium at 33 and moved to Balyasny four years later.
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