Millennium to shake up investment operations
Millennium Management, one of the world’s biggest hedge fund firms, has unveiled a shake-up of the organisation of its investment operations that will see the departure of co-chief investment officer Bobby Jain.
Founder Izzy Englander wrote to investors on Tuesday, in a note seen by the Financial Times, saying the company, which has $59bn in assets, was going to set up a so-called office of the chief investment officer, which will include two new co-CIOs and the heads of risk management in the asset classes in which the firm trades.
Former Goldman Sachs head of equity trading Paul Russo, who is Millennium’s global head of equities risk, will become one of the co-CIOs; the second name is to be announced shortly.
This story originally appeared on: Financial Times - Author:Laurence Fletcher
