Rates trader opts for Millennium after accepting Point72 offer
Matteo Sardo, a rates-focused portfolio manager who previously worked at Taula Capital Management, has withdrawn from an agreement to join Point72 Asset Management and instead is returning to Millennium Management, according a report by Bloomberg. The report cites unnamed people familiar with the matter as saying that Sardo had accepted an offer to work for Steve Cohen’s Point72 before changing…
Matteo Sardo, a rates-focused portfolio manager formerly of Taula Capital Management, has abandoned an offer to join Point72 Asset Management and is returning to Millennium Management, according to a Bloomberg report. According to unnamed sources familiar with the situation, Sardo initially accepted a position at Point72 before deciding to rejoin Millennium.
He currently works from Milan, where Millennium maintains an office. Point72 and Millennium's representatives have not provided comments, and Sardo did not respond to requests for comment. This move unfolds in a fiercely competitive landscape among major hedge funds vying for seasoned portfolio managers and other investment professionals.
The phenomenon of traders accepting one firm's offer only to later switch to another has become more prevalent as managers vie for talent, particularly in light of longer non-compete periods that restrict the pool of immediately available portfolio managers.
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