Millennium Management has announced a shake-up of its its investment operations that will see chief investment officer Bobby Jain leave the hedge fund giant, according to a report by the Financial Times.
Millennium Management has announced a shake-up of its its investment operations that will see chief investment officer Bobby Jain leave the hedge fund giant, according to a report by the Financial Times.
The report cites a note sent to employees by Millennium founder Izzy Englander as revealing that the $59 billion firm is to establish a so-called “Office of Chief Investment Officer,” which will include two new chief information officers and chief risk management officers covering the asset classes traded by the firm.
Paul Russo, former head of equity trading at Goldman Sachs and global head of equity risk at Millennium, is to take up one of the co-CIO roles, with the second appointee due to be announced shortly.
Jain, who joined Millennium more than six years ago when the company ran about $30 billion, will step down as chief investment officer, but will remain with the company until the middle of next year to ensure a smooth transition.
