Naveed Malik, who spent nearly four years as the global head of systematic data at multi-strategy hedge fund major Millennium in New York, has joined the Abu Dhabi Investment Authority (ADIA) as the Global Head of Quantitative Research and Development, according to a report by eFinancial Careers.

Prior to his time at Millennium, Malik served as head of data at Cubist Systematic Strategies, the quant fund division of Point72, for six years.

Although there's no official confirmation, Malik's appointment would suggest that Marcos Lopez de Prado, who also holds the position of Global Head of Research and Development at ADIA and is the architect behind its "supergroup of quant investing," may have either left or is now sharing leadership responsibilities.

Malik's appointment at ADIA follows that of another high-profile quant earlier in the year – Rahul Mundke, the former Head of Central Risk Books Technology at Bank of America.