Millennium Management has hired Gianfranco Canepa, the former Head of High Yield for EMEA at JPMorgan, as it continues to build out its credit platform in London, according to a report by eFinancial Careers.

Canepa joins from GoldenTree Asset Management, where he spent the past few years following his departure from JPMorgan in 2022. His exit from the bank came after a €500m trade linked to a French grocery retailer resulted in losses of around €70m.

At Millennium, Canepa will join a growing credit business led by Dan Friedman, a former Goldman Sachs partner hired in 2023 to establish a standalone credit unit. Canepa previously worked at Goldman between 2017 and 2020.