In a bold step that underscores Monaco’s rising profile as a magnet for global finance, U.S.-based hedge fund giant Millennium Management is setting up a new trading hub in the heart of the Principality.
The firm has tapped seasoned financial expert Ziad Kerbage to lead the initiative. Formerly with Maven Securities and previously a trader at JPMorgan Chase and Morgan Stanley, Kerbage will be Millennium’s first portfolio manager based in Monaco. His mission: build a dynamic team and spearhead the development of local operations. Sources close to the matter report that Millennium has already started the process of obtaining regulatory clearance.
This move reflects a growing trend among elite financial institutions. Monaco continues to attract leading global firms, following in the footsteps of financial powerhouses like Goldman Sachs and Caxton Associates, which have also established offices in the Principality.
Founded in 1989 by billionaire Izzy Englander, Millennium Management has grown into one of the most successful hedge funds in the alternative investment world. With nearly $75 billion in assets under management and over 340 trading teams globally, the firm reported a remarkable $9.4 billion in profits in 2024, according to LCH Investments.
Driven by a philosophy of constant innovation and a commitment to generating consistent returns, Millennium encourages its investment professionals to explore a wide range of strategies across global markets.
While the firm’s decision to expand into Monaco aligns with its strategic growth plan, it’s also a testament to the allure of life on the Côte d’Azur. Bloomberg notes that Millennium sometimes selects locations based on its traders’ lifestyle preferences—adding a personal touch to a high-stakes financial move.
With this latest development, Monaco further cements its status as a luxury destination for high finance.