Millennium Management has recruited a former Goldman Sachs energy trading executive as a senior commodities portfolio manager in Jersey, adding to the hedge fund’s presence on the Channel Island as it continues to build out its energy trading capabilities, according to a report by eFinancial Careers.

Emmanuel Clair has joined Millennium after spending the past two years running his own commodities investment business, Dolment Advisors. The appointment takes the experienced energy trader to a jurisdiction that has increasingly attracted hedge fund professionals seeking an alternative to traditional financial centres.

Clair spent much of his career in London. He worked at Goldman Sachs for about a decade, ultimately becoming head of London energy trading and global head of crude oil derivatives trading.

Before joining Goldman, Clair spent eight years at energy trading company EDF, where he headed power options and structured products trading. He holds a PhD in quantitative hydrology.

Millennium’s Jersey operation remains relatively small, but the firm has shown signs of increasing its interest in the island as a base for investment professionals.

The hedge fund was reported earlier this year to be considering expanding its existing Jersey operation as an alternative location for portfolio managers reluctant to relocate to the UAE amid geopolitical tensions in the region.