Publication date:
June 27, 2025
Senior Oil Trader David Zimbler Retires from Millennium Management
David Zimbler, who led a large oil trading team at Millennium Management, is retiring after decades in the commodities trading industry.
Energy
David Zimbler, a senior portfolio manager who oversaw a substantial oil trading team at Millennium Management, has announced his retirement. This marks the end of a long career in commodities trading for the 60-year-old Miami-based trader.
Zimbler's departure is part of a series of recent changes in Millennium's commodities unit. While some members of Zimbler's team are expected to remain with the fund, the exact details of their roles are yet to be confirmed. Millennium, a $75 billion multimanager hedge fund, has declined to comment on the matter.
Zimbler's extensive career in the energy sector included positions at BP and the Chicago Mercantile Exchange, where he traded oil derivatives and other energy products. His retirement follows the exits of other senior portfolio managers from Millennium's commodities division, including Pavel Favinsky and Tom Arnold earlier this year.
Despite these departures, Millennium has been actively recruiting new talent. Recent additions to their commodities team include Harish Tulsi from BlueCrest Capital, Spencer Schredder from Citadel, and Rodolphe Tribolet from Mercuria.
The commodities market has faced significant challenges in 2025, with commodity-focused hedge funds experiencing some of the worst performances this year according to hedge fund analytics firm PivotalPath. Factors such as trade tensions and geopolitical events, including the ongoing war between Israel and Iran, have contributed to market volatility.
Despite these challenges, Millennium's commodities group has been a strong performer, generating $500 million in 2024 and $600 million in 2023. The retirement of a key figure like Zimbler may signal a shift in strategy or leadership within the firm's commodities division as it navigates an increasingly complex global energy landscape.
The energy trading sector continues to be a focus for major hedge funds, but the current market conditions present both opportunities and risks. As veteran traders like Zimbler step down, it will be interesting to see how firms like Millennium adapt their strategies and develop new talent to maintain their edge in this volatile market.
Zimbler's departure is part of a series of recent changes in Millennium's commodities unit. While some members of Zimbler's team are expected to remain with the fund, the exact details of their roles are yet to be confirmed. Millennium, a $75 billion multimanager hedge fund, has declined to comment on the matter.
Zimbler's extensive career in the energy sector included positions at BP and the Chicago Mercantile Exchange, where he traded oil derivatives and other energy products. His retirement follows the exits of other senior portfolio managers from Millennium's commodities division, including Pavel Favinsky and Tom Arnold earlier this year.
Despite these departures, Millennium has been actively recruiting new talent. Recent additions to their commodities team include Harish Tulsi from BlueCrest Capital, Spencer Schredder from Citadel, and Rodolphe Tribolet from Mercuria.
The commodities market has faced significant challenges in 2025, with commodity-focused hedge funds experiencing some of the worst performances this year according to hedge fund analytics firm PivotalPath. Factors such as trade tensions and geopolitical events, including the ongoing war between Israel and Iran, have contributed to market volatility.
Despite these challenges, Millennium's commodities group has been a strong performer, generating $500 million in 2024 and $600 million in 2023. The retirement of a key figure like Zimbler may signal a shift in strategy or leadership within the firm's commodities division as it navigates an increasingly complex global energy landscape.
The energy trading sector continues to be a focus for major hedge funds, but the current market conditions present both opportunities and risks. As veteran traders like Zimbler step down, it will be interesting to see how firms like Millennium adapt their strategies and develop new talent to maintain their edge in this volatile market.
