Millennium’s Jain Is Stepping Back as Hedge Fund Shuffles Management
- Izzy Englander’s firm is creating a new office of the CIO
- The office will include two new co-CIOs, one of which is Russo
Bobby Jain
Photographer: Patrick T. Fallon/Bloomberg
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Millennium Management’s Bobby Jain is “stepping back” from his role as co-chief investment officer in one of the biggest overhauls at the top of the $59 billion hedge fund firm.
Founder Izzy Englander, 74, is establishing an office of the CIO, which will include two new co-CIOs and two heads of asset class risk management, he said in a memo to staff on Tuesday evening a copy of which was seen by Bloomberg. Paul Russo, currently global head of equities risk, will become one of the new co-CIOs. His counterpart, who wasn’t identified, will join in May.