A quant trader and researcher who cut his teeth at Lehman Brothers has joined Millennium Management in an interesting new role that may have consequences on who the hedge fund ultimately hires. Derrick Li started at Millennium in New York in August.
Li’s new position at Millennium has some similarities to his previous career stops at Nomura and Barclays – he’ll still be building quantitative analytics tools and covering equity derivatives. But Li noted on LinkedIn that part of his duties as a risk manager include interviewing prospective portfolio managers and evaluating their trading strategies. It appears Millennium is working to mitigate potential trading risks before employee badges are ever handed out.
Beginning his career at Lehman Brothers as a software engineer, Li…
