Millennium Management hired three new executives, part of the restructuring of the investment management team for the $35 billion hedge fund business.
Peter Santoro will join Millennium as global head of equity; Mark Tsesarsky will become co-head of fixed-income and commodities; and Stephen Haratunian will assume the role of chief risk officer, said Israel Englander, Millennium's founder, chairman and CEO, in a letter to employees obtained by Pensions & Investments.
Mr. Santoro will lead the firm's global equity team drawing on 24 years of experience in trading and risk management, Mr. Englander said. He replaces Hyung Soon Lee, who left the firm earlier this year. Mr. Santoro was global head of equity trading at Morgan Stanley (MS). Details about his replacement there could not be learned by press time.
Mr. Tsesarsky will take on the role of co-head of fixed income and commodities, a newly combined team, according to Mr. Englander's letter. He replaces Michael Gelband who left earlier this year. The other co-head of the new unit is John Anderson, who served as Millennium's global commodities chief. Mr. Tsesarsky was global head of securitized markets at Citigroup. Spokesman Scott Helfman said Citigroup hopes to announce Mr. Tsesarsky replacement shortly.
Mr. Haratunian will replace Dev Joneja. Mr. Haratunian was most recently global chief credit officer and co-chief risk officer of the investment banking division of Credit Suisse. His successor could not be learned by press time.
“We are pleased to announce three notable additions to the Millennium senior leadership team which largely completes our broader strategy around the restructuring of our investment management team,” Mr. Englander said in the letter to Millennium employees.
“Our new heads of equities, risk and co-head of fixed income and commodities will join over the coming weeks and each bring significant institutional knowledge and domain expertise that will further enhance our investment platform and strengthen our leadership team,” Mr. Englander added.
Tripp Kyle, a Millennium Management spokesman, declined to comment on the company's new hires.