Goldman Sachs loses another long-term senior leader

Goldman Sachs Group Inc.’s global treasurer, Philip Berlinski, is leaving the bank after more than two decades for Millennium Management, the latest Goldman executive to head to the multistrategy firm.

Berlinski will become co-chief operating officer at the firm, according to the Financial Times, which reported the hire earlier. He’ll join former colleagues like Justin Gmelich and Paul Russo. 

Founder Izzy Englander has also tapped the Wall Street bank for talent elsewhere, hiring trader Naveen Choppara last year as part of the hedge fund’s plans to expand its emerging markets operations in Dubai. Last month, Millennium hired John Jose from Goldman as a senior portfolio manager on its equities team, according to people familiar with the matter.

Business is booming at Millennium as investors migrate toward multistrategy hedge funds for their diversified approach to investing and steady returns. The firm manages about $62 billion spread across more than 320 teams of traders. 

Spokespeople for Millennium and Goldman Sachs declined to comment.

Berlinski, who joined Goldman Sachs as an analyst in equity derivatives research in 1998, is the latest longstanding executive to depart the bank this year. Jim Esposito said earlier this year he was leaving after almost three decades with the firm, as is Beth Hammack. 

Berlinski will report to Millennium’s president and chief operating officer Ajay Nagpal, the FT said.