Millennium Management has made two senior additions to its fast-expanding credit franchise – Jonathan Grau, previously a partner at Laurion Capital, and Christopher Reich, a credit index trader from Brevan Howard, according to a report by Bloomberg.
The report cites unnamed sources familiar with the matter as confirming the appointments at the $73bn multi-manager platform as Millennium continues to build out its credit trading capabilities amid a shifting macro and rates backdrop.
Grau, who joined Laurion in 2016, focused on corporate credit strategies and was a key figure in the firm’s credit business. His bio has recently been removed from Laurion’s website. Reich, a rising talent in credit derivatives, specialised in trading indices tied to credit-default swaps and commercial mortgage-backed securities. His resume includes stints at One William Street Capital and JPMorgan before joining Brevan.
The moves follow the recent hire of Thomas Malafronte, the former US head of credit at LMR Partners and a one-time Goldman Sachs partner known for his success trading high-yield bonds. Malafronte joined Millennium earlier this year, as reported by Bloomberg.
Millennium, led by billionaire Izzy Englander, runs over 330 independent investment teams globally and has long maintained a reputation for aggressively recruiting top portfolio management talent across asset classes.
The hires come amid a challenging stretch for the firm, which was down 1.4% through April after posting back-to-back monthly losses in February and March—a rare drawdown for one of the industry’s most consistently profitable firms. Millennium gained 15% in 2024.
