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Millennium Management continues Asian build-out with new analyst hire

Millennium Management has just taken on an experienced Singapore-based analyst from rival hedge fund Balyasny Asset Management. Jean-Francois Meymandi joined Millennium earlier this month as a senior analyst.

In December, Balyasny reportedly culled about 125 employees globally, including 40 investment professionals, after its assets under management plummeted by roughly $4bn. It is unclear, however, whether Meymandi’s departure is related to these cuts.

In contrast, Millennium, the $35bn hedge fund founded in 1989 by Israel ("Izzy") Englander, has been on somewhat of a hiring spree. Last year alone it took on 300 people globally, of whom 180 were classified broadly as “investment staff”.

This year Millennium has been beefing up its Singapore-based team. Alongside Meymandi, its local 2019 hires include Divik Maheshwari, who joined from Credit Suisse as a macro portfolio manager, and Jay Suresh, who’s now Millennium’s senior investment officer following a two-year stint at Partners Capital, an outsourced investment office.

Meymandi moved to Balyasny (and to Singapore) in January 2017, after working for 16 months as an equity analyst at Morgan Stanley in Zurich, according to his online profile. Prior to that he spent more than five years at UBS in the same city as a member of the European chemicals equity research team.

He may now be thankful that he didn’t relocate to Asia with a bank. Global banks from Credit Suisse to Deutsche have been cutting back their Asian equities units. Earlier this month Nomura trimmed eight out of nine staff from its Singapore equities research team.

Meymandi began his career in 2008 as an energy-sector equity analyst at SAM Sustainable Asset Management in Zurich.

Image credit: Kapook2981, Getty

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AUTHORSimon Mortlock Content Manager

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