Hedge fund Millennium loses two tech staff after 2020 hiring

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Hedge fund Millennium loses two tech staff after 2020 hiring

Millennium, the multi strategy hedge fund that's turned into one of the industry's big hirers has lost some of its technology staff after a spate of recruitment last year. 

Sridhar Nimmagadda, the former head of technology R&D at Millennium in New York City resurfaced at Point72 as head of technology innovation in May 2021. Nimmagadda was at Millennium for nearly 14 years after joining from Merrill Lynch in 2007. At Point72 he says he'll be exploring everything from quantum technology, to applied artificial intelligence, and machine-brain interfaces.

Nimmagadda isn't the only Millennium exit. Bijan Treister, the former head of infrastructure engineering at WorldQuant, has also left after six years. It's not clear where he's going next. 

Millennium declined to comment on the exits. But the departures come after hiring into its technology and middle office teams. Millennium added three former Goldman Sachs partners (Paul Russo, Scott Rofey, Jeffrey Verschleiser) into risk management roles earlier this year. 

Last year, Millennium supplemented its technology ranks. Recruits included: Naveed Malik from Cubist as head of systematic data; Dean Vasilakos as head of equities portfolio management tools; Fernando Jeronymo from Tower as head of low latency technology; and Kostas Evangelinos from Nebula Research and Development for algorithmic execution. 

While Millennium's portfolio managers are divided into pods, its technology staff are organized centrally. The fund hires 30-40 interns a year across technology and core infrastructure if any students are interested in plugging the new gaps...

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Photo by Elena Saharova from Pexels

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