The Morning Brief: Millennium Names New Fixed-Income Head

May 03, 2017   Stephen Taub

Izzy Englander's firm has hired Citigroup's Mark Tsesarsky after the surprise departure of Michael Gelband earlier this year.

Israel Englander’s Millennium Management has named Citigroup’s Mark Tsesarsky as co-head of its fixed income and commodities business, according to a Wall Street Journal report, citing people close to the matter. With the hiring, the $35 billion multistrategy hedge fund firm is combining its fixed-income and commodities businesses. Englander was stunned earlier this year when Lehman veteran Michael Gelband, the head of fixed income, left the firm. According to the report, Tsesarsky had spent 31 years at Citigroup, where he most recently was a managing director focused on securitizations. Millennium is currently up 2.6 percent for the year after gaining just 3.4 percent in 2016.


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