Brian Fitzpatrick, the former JPMorgan managing director who joined hedge fund Millennium in the dark days of the pandemic during May 2020, is understood to be leaving again.
Sources say Fitzpatrick is exiting Millennium this week. Millennium declined to comment, and Fitzpatrick didn't respond to a request to comment on his exit.
Fitzpatrick was something of a star at JPMorgan, where he worked on the bank's Latin American rates and FX trading desk in New York. He spent nearly 13 years at the bank before quitting for Millennium.
Millennium Management is popular with portfolio managers and traders from investment banks because it gives them a high degree of autonomy within their own 'pods.' However, the downside is that it has a reputation for imposing strict risk limits and dispensing with people who make significant losses.
Last year, the Financial Times reported that Millennium had expanded to its largest size ever, with 265 pods, up from 235 in 2020.
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