Hedge fund giant Millennium Management has poached Erdit Hoxha, Goldman Sachs' co-head of global equities, in a move that highlights Wall Street's ongoing talent drain. Hoxha, who was promoted to co-head of equities at Goldman last year, will join Millennium's Office of the Chief Investment Officer, according to sources familiar with the matter.

This latest defection underscores Millennium's aggressive recruitment strategy, particularly from Goldman Sachs. The New York-based hedge fund has built a senior leadership team heavily populated with Goldman alumni, including co-chief investment officers Justin Gmelich and Paul Russo. Millennium's Office of the CIO, created in 2022 by founder Izzy Englander, oversees the firm's risk management and investment operations.

With $86 billion in assets under management, Millennium pioneered the multi-manager hedge fund model that allocates capital to hundreds of trading teams across equities, commodities, and fixed income. The firm has been implementing strategic changes to ensure stability, including a multiyear share class for investors and diversification into private credit. Hoxha's departure comes as Goldman Sachs identifies a new generation of executives to lead its key businesses, marking another high-profile exit from the investment banking giant.