Millennium hires 20-year hedge fund veteran from Balyasny
Millennium's performance in the first half of 2024 was middle-of-the-road when looking at other multi-strategy hedge funds. Since then, it has been hiring to shake things up, and seems to like Citadel alums.
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Its most recent hire is Gary Quaranta in Chicago, who has joined as the firm's 'head of portfolio manager infrastructure engagement' within its FIC technology team. He's spent the past five and a half years at Balyasny, as a manager in database administration.
The bulk of Quaranta's finance career, however, was spent at Citadel. He spent 15 years at Ken Griffin's fund in a variety of roles, latterly as director of database and storage operations for its global infrastructure team.
It's not clear exactly what 'PM infrastructure engagement' is. Millennium declined to comment, but with Quaranta's background in database management, it may have something to do with helping PMs engage with the firm's data more.
Millennium had 1,000 employees working in technology as of last April, and has presumably grown those numbers since. A focal point of that growth is its Miami tech hub. Opened in 2022, it's home to ex-Goldman Sachs partner Olga Naumovich, as well as a slew of other technologists.
Millennium has looked to Citadel for its trading talent too. Naman Jain, a Citadel PM that spent six years at the firm, joined the fund's London office last month as a senior PM.
Millennium was up 6.9% in the first half of 2024, on track to beat its 2023 performance. Citadel's Wellington fund was up 9.9% through to August.
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