Ex-James Caird Credit Chief Joins Millennium

May 5 2010 | 10:53am ET

Unhappy with his compensation at James Caird Asset Management, Iftikhar Ali has found a better payday at Millennium Management.

Ali, who left James Caird last month after just nine months at the helm of its European credit business, joined Millennium Capital Partners—Millennium’s London arm—yesterday. He’ll trade European and Asian credit at his new job, Financial News reports.

Another James Caird credit trader has also found a new home. Gopi Karunakaran, who worked with Ali, will move to Tricadia Capital’s London office this summer, where he will focus on European credit.

According to Financial News, Ali was believed he was not adequately compensated for his contributions to the performance of James Caird’s Global Fund. James Caird, unlike most hedge funds, pays its employees on a discretionary basis, rather than basing compensation directly on performance.

Before joining James Caird 10 months ago, Ali was head of credit arbitrage trading for Europe and Asia at Bank of America. He previously did a stint as head of credit default swap trading at Citigroup.

In Depth

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


U.S. Trust's Beard: The Rapid Growth of the Art Lending Industry

Oct 7 2016 | 10:55pm ET

Alternative investment managers have emerged as some of the most significant art...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...