(Bloomberg) -- Anthony Dewell, one of the top traders in Goldman Sachs Group Inc.’s commodities business, is exiting to join Izzy Englander’s mega hedge fund Millennium Management.

Dewell, 38, who helped oversee Goldman’s oil-trading business, was behind some of the bank’s most profitable runs in the post-pandemic period as the firm capitalized on wild-price gyrations. The executive, whose exit was shared with staff on Monday, was seen as a likely candidate to one day run the commodities business at the Wall Street giant. 

Dewell’s move to New York-based Millennium was described by people familiar with the matter who asked not to be identified discussing private information. 

The commodities business at Goldman Sachs, a mainstay in its trading division for four decades, has seen a renaissance in recent years. Wilting markets that offered up few opportunities turned into one of the most volatile periods for commodity prices, allowing the bank to string together a run of good years. 

Representatives for Goldman Sachs and Millennium declined to comment. Dewell couldn’t immediately be reached for comment.

The division is led by Ed Emerson, the veteran executive who moved to Florida and has had sole charge of the unit since 2019. Dewell, who oversees oil trading with Qin Xiao, was one of the recent promotions into Goldman’s partner rank -- after getting elevated to the highest rung inside Goldman in the 2018 cycle. He’s worked at Goldman Sachs since 2006, industry records show.

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