Nomura said to hire Millennium's Ajay Abrol for macro trading

[SINGAPORE] Nomura Holdings Inc, Japan's largest brokerage, hired Ajay Abrol from Millennium Management as a senior portfolio manager for macro trading, according to a person with knowledge of the matter.

It will be a second stint at Nomura for Mr Abrol, who had been with Millennium since 2015, having briefly worked at the Japanese firm as a senior proprietary trader.

Singapore-based Mr Abrol will join Nomura in August, said the person, who asked not to be named as the information is private.

Macro funds make bets on economic themes by trading currencies, stocks, bonds and commodities. The Eurekahedge Macro Hedge Fund Index has risen 0.6 per cent this year, after notching a 3.8 per cent gain in 2016.

Mr Abrol also previously worked at Lehman Brothers and BNP Paribas SA, and had an earlier stint at Millennium, according to his LinkedIn profile.

Mr Abrol didn't return a call seeking comment, while representatives at Millennium didn't immediately reply to an email.

Nomura declined to comment on the appointment in an emailed response to questions.

BLOOMBERG