Rick Lane, the former Chief Technology Officer (CTO) for Core Engineering at hedge fund giant Citadel, has joined Millennium Management, taking on a role focused on trading technology, according to a report from eFinancial Careers.

After spending over two years at Citadel, Lane had been on garden leave for the past 15 months.

Lane's departure from Citadel follows the recent hiring of Atte Lahtiranta, formerly the CTO of Goldman Sachs, who has stepped into Lane’s previous role at Citadel. Lahtiranta’s appointment marks a significant hire for Citadel, where the core engineering team is central to the firm's risk management and trading operations.

Before his time at Citadel, Lane spent over a decade at Trading Technologies, a capital markets SaaS firm, where he served as CEO for seven years. His move to Millennium is part of a broader trend of senior talent transitioning from Citadel to other top-tier hedge funds. Earlier this month, Luca Mihailescu, who spent seven years as Director of Security Engineering at Citadel, also joined Millennium as an Identity and Data Protection Lead.

In addition to Lane and Mihailescu, Millennium has brought on board Terence Schofield, the former CTO of Pantera Capital and Head of Digital Assets at Point72. Schofield’s new role at Millennium will see him heading liquidity provision technology, signalling a shift away from his previous focus on cryptocurrencies.