Multi-strategy hedge fund major Millennium Management has added another senior investment banking veteran to its growing Asia-Pacific operation, appointing Ernest Ng, former Head of Asia-Pacific Equity Derivatives at UBS, as a Senior Portfolio Manager, according top a report by Bloomberg.

The report cite unnamed sources familiar with the matter as highlighting that Ng’s move marks the latest in a string of high-profile hires by the $73bn firm as it continues to deepen its bench in the region by tapping talent from top-tier global banks. A Millennium spokesperson declined to comment, and Ng could not be reached.

Ng will be reunited with Ken Pang, who previously worked with him at Credit Suisse and now heads Millennium’s Asia-Pacific equities division. The hire follows other recent additions to the team, including Arnaud Leteissier, formerly Citigroup’s Head of Equity Trading for Asia North, South, and Australia, and Camille Modiano, ex-Co-Head of Asia-Pacific Equities at JPMorgan Chase, who joined in early 2023.

Millennium’s equities management team – led globally by Pete Santoro and Michael Chung – is also expected to welcome Eric Govind, Morgan Stanley’s former Head of Asia Equities Trading, as a senior member.

UBS has named Michael Abou-Seif as interim replacement for Ng, according to an internal memo. Abou-Seif, who currently heads index flow derivatives trading in Asia-Pacific, has been with UBS since 2005 and brings deep experience in both index and single-stock derivatives trading.