UBS Group’s co-head of CEEMEA credit trading, Dean Cooper, is moving from London to Dubai to join Millennium Management, according to a report from Bloomberg.
Cooper will report to Goldman Sachs alumnus Akash Patel, who joined the hedge fund in 2021 as senior portfolio manager. His appointment comes as part of a hiring spree by the firm, which recently also brought on board Morgan Stanley electronic trader Grant McAllen.
Hedge funds are reportedly flocking to Dubai as their newest hotspot, with Millennium rumoured to have brought its headcount in the emirate up to around 30 already after acquiring a license from the Dubai International Financial Centre (DIFC) in 2020.
Other well-known funds, including ExodusPoint Capital Management and Blue Crest Capital Management, are also setting up shop in the region and hiring aggressively.