Résumé:
Monaco strengthens its status as a financial hub as the US fund Millennium Management prepares to open an office in the Principality, following the trend of other financial giants like Goldman Sachs.
Histoire complète :
Monaco is attracting top financial firms, further solidifying its status as a global financial hub. Millennium Management, an American fund, is set to open an office in Monaco, with Ziad Kerbage, formerly of Maven Securities, leading the team. Kerbage’s role will involve building a local team to expand the fund’s activities in the Principality. Sources suggest that the necessary approvals are already underway. This move follows in the footsteps of Goldman Sachs, which opened an office in Monaco in early 2022, and Caxton Associates, another hedge fund, which also operates there. Millennium Management, founded in 1989, is a major player in global alternative finance, managing around $75 billion in assets. The firm employs over 340 teams of traders and focuses on evolution, innovation, and concentration in order to deliver high-quality returns to investors. According to Bloomberg, the fund sometimes chooses its locations based on the preferences of its traders, which may explain this new venture on the French Riviera.
Source:
Monaco Tribune
