Morgan Stanley electronic trader departs for Millennium

Incoming trader at the hedge fund previously spent nearly eight years at Morgan Stanley and served across Barclays Capital, Instinet and Fidessa.

Hedge fund Millennium has selected a former Morgan Stanley executive to take on a new trading role, The TRADE can reveal.

Grant McAllen has joined Millennium after most recently serving at Morgan Stanley for the last eight years as part of its MSET – Morgan Stanley Electronic Trading – platform, according to an update on his social media.

Millennium had not responded to a request for comment at the time of publishing.

Prior to joining Morgan Stanley in 2014, McAllen spent three and a half years at Barclays Capital in a client onboarding and equities trading services role and a year at Instinet and Fidessa in FIX connectivity-focused roles.

McAllen joins the hedge fund at a time of transition for its trading desk, after its execution services head for Europe, the Middle East and Africa (EMEA), Tom Ungi, confirmed plans to retire at the end of this year after 16 years in his role. His replacement is yet to be announced.