Hedge fund Millennium Management has recruited three equities traders from rival Citadel as competition for investment talent intensifies among the industry’s largest multi-strategy firms, according to a report by Bloomberg.

The report cites unnamed sources familiar with the matter as confirming that Saaket Mehta, Steven Jozkowski, and Adam Weitzman have left Citadel, where they worked in the Surveyor equities trading unit, to join Izzy Englander's firm.

The hires come during the traditional post-bonus hiring window, when hedge funds often seek to recruit traders after annual compensation has been paid out. The period is widely viewed across the industry as a key opportunity for firms to assess and attract new portfolio managers and analysts.

Representatives for Citadel reportedly declined to comment, while the traders involved did not respond to requests for comment.