BlueCrest Capital Management, the investment firm run by billionaire Michael Platt, has hired Christopher Bae as a money manager in New York.

Bae, who was the global head of fixed income, currencies and commodities electronic trading at Bank of America Corp. until last year, has joined BlueCrest to trade on changes to interest rates, according to Ed Orlebar, a spokesman for Platt’s firm. Bae didn’t reply to an e-mail seeking comment.

The hiring follow BlueCrest’s decision last year to return about $7 billion in client money to focus on managing Platt’s wealth and that of his partners and employees. BlueCrest, once one of the largest hedge fund firms in Europe, managed $8 billion in December, down from $37.4 billion in May 2013.

Bae, who was earlier a managing director in the equity derivatives trading group of Goldman Sachs Group Inc., had joined Bank of America as a co-head of global foreign exchange options in 2009.

BlueCrest has also hired Roy Aviner, a former interest-rate swaps trader at JPMorgan Chase & Co., a person familiar said in March. Nikki Martin and Tom Ayres, who previously worked at Ivaldi Capital LLP, also joined the company as money managers in London last month, according to Orlebar.

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