Millennium has reportedly poached a veteran commodities trader originally set to join Point72.

Informed sources revealed that the hedge fund Millennium Management has recruited commodities trading veteran Ryan Sheffler; Sheffler was initially set to join Point72 Asset Management but has not yet started there. According to insiders, Sheffler will serve as a senior portfolio manager at Millennium, focusing on commodities. This latest recruitment maneuver by Millennium once again demonstrates that well-capitalized hedge funds will go to great lengths to attract top talent, even if that talent has already agreed to work for another firm.