Millennium and Verition explore Athens offices

Millennium Management, Rokos Capital Management, and Verition Fund Management are all exploring the possibility of setting up offices in Athens, according to Bloomberg. This is seen as a sign that Greece is becoming an attractive destination for hedge fund firms and their senior investment talent. Izzy Englander's multi-strategy hedge fund is in discussions with Greek authorities about a potential Athens operation, including staffing requirements.

Fellow manager Rahul Chopra is also considering moving to Greece. The collective assets managed by these firms amount to approximately $134 billion, highlighting the potential impact of these moves on Greece's efforts to build a larger hedge fund industry. This comes after Rokos Capital Management founder Chris Rokos decided to relocate from the UK to Greece, bolstering Athens' efforts to become an alternative base for wealthy hedge fund founders and investment professionals.

Greek Finance Minister Kyriakos Pierrakakis is expected to meet with financiers during an upcoming London visit as part of the government's campaign to promote Greece as a location for financial professionals looking to relocate from the UK. This move comes amid increasing competition between financial centers for mobile hedge fund talent, with tax increases in Britain contributing to the discussion about the appeal of London as a base for wealthy individuals and investment firms.

Despite London's dominance as Europe's leading hedge fund center, employing around 40,000 people and generating about £3.9 billion in tax revenue, other destinations like Dubai and Abu Dhabi have emerged as significant alternatives. The UK hedge fund industry, which manages roughly £400 billion in assets, represents around 10% of global industry assets.