Izzy Englander’s Millennium Management LLC hired Naveen Choppara from Goldman Sachs Group Inc. as the hedge fund expands its emerging markets operations in Dubai.
(Bloomberg) — Izzy Englander’s Millennium Management LLC hired Naveen Choppara from Goldman Sachs Group Inc.
as the hedge fund expands its emerging markets operations in Dubai.
Choppara, who was co-head of emerging market rates and forex trading in CEEMEA for the Wall Street firm, will relocate from London, according to people with knowledge of the matter.
He will work alongside Akash Patel in the Middle Eastern business hub, the people said, asking not to be identified because the matter isn’t public.
Patel, a Goldman Sachs veteran, joined Millennium in Dubai more than a year ago as a senior portfolio manager with a mandate to build out its business in the sun-splashed emirate.
Since securing a license in the Dubai International Financial Centre in 2020, Millennium has attracted money managers and strategists from firms including Amundi SA and HSBC Holdings Plc to expand its team to more than 30 staff in the region.
A New York-based spokesperson for Millennium declined to comment.
Dubai is emerging as a favored destination for hedge fund traders who are drawn by its ease of doing business, tax-free status and its allure as a global travel hub.
It is also a more friendly time zone for portfolio managers who have global investments spanning North America to Asia.
The city’s financial center is in talks with more than 50 hedge funds about setting up in the Middle East business hub after attracting industry heavyweights such as BlueCrest Capital Management and ExodusPoint Capital Management, its governor Essa Kazim said earlier this year.
The funds looking to obtain a DIFC license jointly manage over $1 trillion worth of assets.
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