Goldman Sachs Group Inc.’s global treasurer, Philip Berlinski, is leaving the bank after more than two decades for Millennium Management, the latest Goldman executive to head to the multistrategy firm.
Berlinski will become co-chief operating officer at the firm, according to the Financial Times, which reported the hire earlier. He’ll join former colleagues like Justin Gmelich and Paul Russo.
Founder Izzy Englander has also tapped the Wall Street bank for talent elsewhere, hiring trader Naveen Choppara last year as part of the hedge fund’s plans to expand its emerging markets operations in Dubai. Last month, Millennium hired John Jose from Goldman as a senior portfolio manager on its equities team, according to people familiar with the matter.
Business is booming at Millennium as investors migrate toward multistrategy hedge funds for their diversified approach to investing and steady returns. The firm manages about $62 billion spread across more than 320 teams of traders.
Spokespeople for Millennium and Goldman Sachs declined to comment.
Berlinski, who joined Goldman Sachs as an analyst in equity derivatives research in 1998, is the latest longstanding executive to depart the bank this year. Jim Esposito said earlier this year he was leaving after almost three decades with the firm, as is Beth Hammack.
Berlinski will report to Millennium’s president and chief operating officer Ajay Nagpal, the FT said.
By listening for what truly matters and where clients want to make a difference, advisors can avoid politics and help build more personal strategies.
JPMorgan and RBC have also welcomed ex-UBS advisors in Texas, while Steward Partners and SpirePoint make new additions in the Sun Belt.
Counsel representing Lisa Cook argued the president's pattern of publicly blasting the Fed calls the foundation for her firing into question.
The two firms violated the Advisers Act and Reg BI by making misleading statements and failing to disclose conflicts to retail and retirement plan investors, according to the regulator.
Elsewhere, two breakaway teams from Morgan Stanley and Merrill unite to form a $2 billion RIA, while a Texas-based independent merges with a Bay Area advisory practice.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
