"Yiming Zhang, one of Jump's most senior researchers and a 17-year veteran of the firm, is expected to start as an external manager for Millennium on an exclusive basis after his non-compete restrictions expire."
"Jump, like many secretive quant trading firms, is well-known for enforcing lengthy non-compete provisions, which can last two years even for non-executive employees."
"Yiming and Darko were instrumental in Jump's growth over the last 17 years, and we'll be forever grateful for that. They will be friends of the firm forever."
"Millennium, which manages $84 billion, has hundreds of internal teams trading across the spectrum of hedge fund strategies and has become one of the biggest backers of external hedge fund talent."
Yiming Zhang, a veteran researcher at Jump Trading, has resigned and will join Millennium Management as an external manager once his non-compete restrictions expire. Jump Trading enforces lengthy non-compete provisions, which can last up to two years. Zhang, along with fellow researcher Darko Kirovski, played a significant role in Jump's success over the past 17 years. Millennium Management, managing $84 billion, has increasingly supported external hedge fund talent by providing capital to experienced investors through separately managed accounts.
Read at www.businessinsider.com
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