Millennium Management has hired the former chief technology officer of a major high-frequency trading firm to work on ultra-low-latency trading systems, underscoring continued investment by hedge funds in advanced execution technology, according to a report by eFinancial Careers.

Alexandre Fournier joined Millennium in February following a period of extended leave after departing Tower Research Capital, where he held senior technology roles including CTO and global head of architecture, according to industry profiles and job listings referenced in reports.

At Millennium, Fournier is linked to the firm’s Systematic Platform Execution and Exchange Data (SPEED) team, which focuses on building data and execution architecture spanning latency regimes from sub-100 nanoseconds through to millisecond-level workflows. The team is currently recruiting engineering talent, including senior C++ specialists, with compensation packages reportedly reaching up to $250,000.

Millennium reportedly did not respond to requests for comment.

Fournier’s background includes nearly a decade at Tower Research Capital, where he held senior technology positions within its trading infrastructure division, as well as over a decade at Société Générale, where he worked in high-frequency trading systems.

Tower, like Millennium, operates a multi-strategy model that includes semi-independent trading teams and technology support structures, reflecting growing similarities in how top-tier trading organisations are being built.