Hedge fund Millennium opens fancy new Singapore office
Millennium Management has relocated to a new and larger office in Singapore, a move that will potentially see it expand its headcount in the country.
The US hedge fund announced the opening of the office, located in the new CapitaSpring building on Market Street, in a recent LinkedIn post.
The Singapore office is “much bigger than before” and is also large by the standards of the Asian hedge fund sector, according to a buy-side headhunter, adding that he expects Millennium to increase its local workforce.
Dr Tan See Leng, Singapore’s Minister for Manpower and Second Minister for Trade and Industry, attended the office opening ceremony. Writing on his own LinkedIn post, Tan said Millennium and its offshoot WorldQuant plan to “deepen” its presence in Singapore and has been “actively grooming our local talent”. “For example, WorldQuant holds campus recruitment events at our local universities each year, while Millennium recruits trading talents locally to deploy to regional and global markets”.
Tan said the expansion of firms like Millennium will open up more jobs in Singapore. “There is intense contest around the world for talent, particularly in growth areas such as sustainability, AI and fintech. Only when companies have the certainty that they can hire the skills and expertise needed, will they have the confidence to set up their operations here, and create job opportunities for Singaporeans,” said the Minister, adding that he looks forward to Millennium and WorldQuant “bringing together the best of financial professionals from Singapore and around the world”.
The headhunter says Millennium is “preparing for growth in Singapore over the next five years”. “Front-office staff will need to be supported by additional people in the middle and back-office, or it becomes unsustainable.” The firm currently has Singapore openings in areas such as trading, portfolio management, technology, operations and the middle office, according to its careers site.
Millennium staff in Singapore won’t lack for food or relaxation options in CapitaSpring, the joint second-tallest building in Singapore. The landmark skyscraper, which opened last year and is also home to JP Morgan, features a “four-storey vertical park named the Green Oasis” and its own hawker centre, with 56 food stalls.
Millennium declined to comment for this article.
Photo by Jisun Han on Unsplash
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