Posted on

What Layoffs? Top Wall Street Traders Score Giant Paydays


Mr. Ericsson left Citadel in June, but he won’t start at Millennium until September. Firms like Millennium, which manages about $50 billion, are offering such enormous pay packages that traders like Mr. Ericsson are willing to sit out more than a year before starting a new job. Firms often require former employees to go on “garden leave” before starting a new job so that they don’t take information with them to a competitor, but the waiting period is much shorter.Mr. Ericsson referred inquiries to a spokesman for Millennium, Guy Potvin, who said in a statement that the compensation figures Mr. Ericsson had quoted to associates were in …

Read More