Hedge fund Millennium hired an ex-JPMorgan MD whose team made a loss
It's been a while since we've written about Gianfranco Canepa, the former head of high yield for EMEA at JPMorgan. In 2022, we noted that he'd left JPMorgan after his team made a €500m bet on a French grocery store, and that the bet had lost €70m after Canepa's exit.
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Post-JPMorgan, Canepa spent the past few years at hedge fund GoldenTree Asset Management, but now he's moving again. We understand that he is joining Millennium in London.
Millennium declined to comment. Canepa will be amidst some familiar faces there. In January, Millennium created a standalone credit business under Dan Friedman, a former Goldman Sachs partner whom it hired from Diameter's London business in 2023. Canepa also worked for Goldman between 2017 and 2020.
Millennium is thought to have another new London hire too. Michael Boam, the former head of leverage finance research at Sona Asset Management is also thought to be enroute.
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