It’s been about two months since Neil Chriss, founder of recently-defunct hedge fund Hutchin Hill Capital, announced his intention to partner with Millennium Management to build out a new quantitative trading business. The unit now has its own name, and Chriss is looking to add to his team.
Dubbed Omnis Quantitative, the business is being described as a “Millennium platform company.” Chriss has already made at least one confirmed hire. Andrew Ronan, a former quantitative research analyst at Hutchin Hill, has reunited with his boss under the Millennium umbrella. A famed mathematician and former quant at Goldman Sachs, Chriss is having talks with other quant researchers and technologists who are interested in joining Omnis, according to a recent LinkedIn post.
“We have a beautiful office space and tremendous support from everyone at Millennium. I could not be happier!,” he wrote. Chriss didn’t respond to a request for comment on the buildout of the new business. Millennium declined to comment on the details on the partnership.
For Chriss, the move under the Millennium umbrella comes just nine months after he shuttered Hutchin Hill, which started strong following its 2008 launch but underperformed over its last three years. He noted in a parting letter to clients in November that the fund returned a net cumulative 83% since its launch.
While he hasn’t worked directly with Millennium previously, Chriss has plenty of ties to the hedge fund giant. At least a dozen former Hutchin Hill employees found work at Millennium before Chriss made his own intentions official. The fund always appears to be in growth mode; it also just poached three senior sell-side quants who spent their entire career at investment banks.
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