JPMorgan hired a senior systematic equities MD from hedge fund Millennium
Not all people who leave banks for hedge funds stay there. In 2024 John Jose left Goldman Sachs and joined Millennium as a senior equities portfolio manager. Now he's leaving the hedge fund and joining JPMorgan instead.
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At JPMorgan, Jose will be a managing director running the risk trading desk of JPMorgan's program trading team. Program trading is a potentially lucrative type of trading in which you algorithmically predict which stocks will be added or removed from an ETF during a period of index rebalancing.
Jose, an Eton and Cambridge graduate, was latterly EMEA head of program trading at Goldman Sachs, having made MD in 2021. Bloomberg reported in 2022 that the program trading team at Goldman Sachs generated $1.4bn in a two-year period with a headcount of just 20.
Other Goldman program traders have gone on to big things; Anne-Victoire Auriault made partner aged just 32 by heading the program trading desk in New York.
JPMorgan declined to comment
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