A former head of equities program trading at Nomura Holdings has left the bank to join New York-based hedge fund firm Millennium Management.
Bloomberg reported that Nicholas Wells’ departure follows Nomura’s decision last year to cut all execution services outside of Japan into the bank’s stand-alone brokerage firm.
Wells will be joined by two other Nomura colleagues at Millennium.
The article also said that Millennium has been hiring employees since nearly tripling its assets under management to $18.2 billion since 2010. According to an earlier eVestment article, the firm has lured at least four traders from UBS’ hedge fund arm through promise of signing bonuses and offers to replace deferred compensation.
Millennium was founded in 1989 by former American Stock Exchange floor broker Israel Englander.