Millennium Management, one of the world's largest hedge funds with over $97 billion under management, is in discussions ...

Millennium Management, one of the world's largest hedge funds with over $97 billion under management, is in discussions with Greek authorities about opening an office in Athens, Bloomberg reported exclusively. The firm was founded by billionaire Izzy Englander in New York in 1989 and now employs more than 7,000 people across more than 360 investment teams. The move follows high-profile fund manager Chris Rokos relocating to Athens, which Bloomberg says has positioned Greece as a serious destination for wealthy financiers leaving the UK. Greece has been running a quiet campaign to pull hedge fund founders out of London, pitching the idea of trading Mayfair for the Aegean. Greek Finance Minister Kyriakos Pierrakakis is expected to include meetings with financial sector figures on his next trip to London, where relocations like this are likely to be on the agenda, according to people familiar with his itinerary. Bruno Sneller of Erlen Capital Management told Bloomberg that a move by someone as high-profile as Rokos will get noticed. He said that when wealthy individuals have enough viable alternatives, the barrier to leaving gets lower, and that matters for London. A key draw is Greece's flat-tax regime on foreign income, which has remained stable since it was introduced. Italy has a similar policy aimed at pulling talent from London, but Rome has raised its flat tax twice since launching it, bringing the annual charge to 300,000 euros. Greece's policy has not changed, giving it a predictability advantage over its Mediterranean competitor. Bloomberg noted that such ambitions would have seemed far-fetched during Greece's debt crisis years. The country is now competing alongside Italy, the UAE, and others for finance professionals exiting Britain after successive UK governments raised taxes on top earners. Millennium's strategies span equities, bonds, commodities, quantitative trading, and arbitrage. #Greece #Finance #HedgeFunds