Millennium to hire Jera power trader in Japan energy push
Since being liberalized about a decade ago, Japan's power market has drawn growing interest from domestic and overseas firms as trading expands.
Hedge fund Millennium Management plans to recruit a power trader from Japan's leading utility company, Jera Global Markets, to expand its presence in the nation's energy sector. Matthias Soreau, who previously headed Japanese power trading at JeraGM, is set to join Millennium's Tokyo team, according to sources familiar with the matter.
Soreau, who previously led Japanese trading for EDF Trading, is expected to bolster Millennium's power business, which has gained attention in recent years due to the country's growing power market and volatile electricity prices. Millennium is also exploring the possibility of hiring additional traders for Soreau's team, following the recent recruitment of other financial talent from Japanese domestic firms.
The energy sector in Japan has become an attractive proposition for foreign firms seeking to capitalize on the market's volatility.
Written by urgent.news from Japan Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
