Millennium Management has recruited veteran commodity trader Ryan Sheffler, according to people familiar with the matter, who was originally slated to join Point72 Asset Management but had not yet started in that role.

Sheffler will serve as a senior portfolio manager at Millennium, focusing on commodities, the sources said, requesting anonymity as the personnel matters are not public.

This hiring raid by Millennium underscores the lengths cash-rich hedge funds will go to to secure top talent, even if the individual has already agreed to work for a rival firm.

According to his LinkedIn profile, Sheffler spent nearly 14 years at Castleton Commodities International trading across commodities, and prior to that, he was a senior trader at Goldman Sachs for more than four years.

Both Millennium and Point72 declined to comment.