Millennium Management has hired Citi’s head of
U.S. equities trading, Armando Diaz, as their new head of
global trading, according to a person familiar with the
Diaz’s start date has not yet been finalized.
His formal title will be senior managing director of global
execution services, and he will likely report to Mark Meskin,
the company’s chief trading officer.
Diaz joins Izzy Englander’s Millennium after
three years at Citi. Earlier, he spent nearly two decades
at Goldman Sachs, having
risen through the ranks of cash and derivative trading to
eventually earn a partnership.
Millennium has an increasing amount of capital to put to
work. It shot up from $9.2 billion to $11.6 billion in assets
over the past year, according to the latest
AR Billion Dollar Club ranking. That was the heftiest
percentage increase of any fund its size or larger on the list
for the past 12 months. Millennium is now the 29th
largest U.S. hedge fund by assets.
It has also weathered the tumultuous markets relatively
well. The firm’s
flagship multistrategy fund was up 5.56% for the year
through the end of August, compared with 1.22% for the
AR multistrategy index.
Diaz, whose formal title at Citigroup was head of U.S. cash
equity execution, did not respond to a request for comment.
Citigroup confirmed his departure and said Kevin Russell, head
of equities trading for the Americas, and Brennan Warble, head
of sales trading for the Americas, will now split his