Millennium raids boutique research firm to poach former HSBC MDs

Izzy Englander’s Millennium Management is expanding its London operation again, raiding boutique research firm New Street Research for two new senior hires.

Stuart Harris, a partner at New Street focused on the healthcare sector, joined Millennium as a portfolio manager in May. He had been at the firm for over eight years, having joined in 2007 after a three-year stint at HSBC where he was managing director. He previously worked at UBS investment bank for six years, leaving as a managing director in 2005.

Millennium has also hired Crawford Currie, another partner at New Street who has been with the firm since 2007, when he also joined from HSBC.

New Street is an independent research firm set up by a group of J.P. Morgan Cazenove bankers in 2003. It focuses on the healthcare and telecoms sectors.

Millennium’s London expansion – which has largely involved poaching traders from bulge bracket investment banks – has stalled in 2016 and headcount has remained relatively flat.

Among the more notable recent hires, however, were Elie Pano, an executive director and emerging markets trader at J.P. Morgan and Michael Levett, who previously worked for now-shuttered hedge fund Clive Capital.

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