Industry News

Check out the latest news and insight from the ever-evolving world of institutional investing and hedge funds from around the globe.

Jing Chen has been eVestment’s hedge fund industry news reporter since 2011. To submit industry-related press releases or request feature ideas please contact her at editor@evestment.com

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Barclays Senior Exec Joins NY Hedge Fund

Apr 03, 2013
Jing Chen

The head of Barclays' prime broking business has left the bank to join a New York-based hedge fund firm.

Financial Times reported that Ajay Nagpal is expected to join Millennium Management in July as chief operating officer. Barclays has not yet hired a replacement for Nagpal.

Nagpal is the latest trader to leave the investment banking industry due to the passage of the Volcker Rule, which prohibits banks from making speculative investments that do not benefit their clients.

Run by former Lehman Brothers executive Israel “Izzy” Englander, Millennium manages about $18 billion in assets.

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