Hedge fund Millennium hired Balyasny London portfolio manager who left after $100m loss

George Klavdianos is back. After leaving Balyasny's London office in December following reports of a $100m loss in a trading book he was leading, Klavdianos has resurfaced in a bigger fund and maybe a better job: he is now a senior portfolio manager at Millennium.

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Millennium declined to comment on Klavdianos' arrival. He joined Millennium in London this month after three and a half years at Balyasny and six and a half years previously at Citadel. 

Klavdianos was Balyasny's head of event driven trading. Sometime last year, the strategy made a loss of $100m and Klavdianos and his team moved on. However, it's not clear who was responsible for the loss, which may also have been linked to a U.S. based credit portfolio manager at Balyasny.  

Now that Klavdianos has a new job at Millennium, it's conceivable that his Balyasny team might join too. Millennium also coincidentally just hired Ian Manchel, a former senior analyst at Balyasny too. 🤔

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