Millennium taps Jera power trader
Millennium Management is strengthening its presence in Japan's increasingly competitive power trading market with the appointment of Matthias Soreau, the former head of Japanese power trading at Jera Global Markets, according to a report by Bloomberg. The report cites unnamed people familiar with the matter as saying that Soreau is expected to join Millennium's Tokyo operation this month. His appointment represents the multi-strategy hedge fund's most significant move yet to expand its activities in Japan's energy markets. Jera Global Markets, the trading arm of Japan's largest electricity generator, has confirmed that Soreau has left the company. Before joining JeraGM, he led Japanese trading at EDF Trading. Millennium is also looking to recruit additional traders for Soreau's new team, according to people familiar with the firm's plans, signalling an intention to build a broader power trading operation rather than make a standalone senior hire.