Millennium Management, a $58 billion hedge fund, is making a big move in the technology space with the launch of a new engineering training program based in Miami. Led by former Goldman Sachs executive Olga Naumovich, the 12 to 18-month program is designed to equip younger engineers with the skills they need to meet the industry’s growing demand for tech talent. As the tech war for talent wage heats up, the training program is one way for Millennium to get ahead of the competition in attracting and cultivating new talent.
The program aims to give Millennial engineers a broad range of experiences from rotating to different teams to work with non-tech staff, while also giving them the opportunity to learn more about finance and hone their technical understanding. By giving engineers more exposure to the operations of a top-tier hedge fund, the program is likely to give the firm an edge when competing for tech talent in the Miami area.
Millennium is not alone in this race for top tech talent. Citadel, another hedge fund, runs a similar program targeted at engineers with similar levels of experience and aims to combat the same complaints tech workers often have with big banks. As other hedge funds compete to build a pipeline of tech talent, initiatives like these demonstrate an effort to stay competitive by creating a more palatable environment for technologists.
In addition to their new engineering training program, Millennium also recently upgraded their tech tool on the Marquee platform with the intent of making options trading easier for their clients – something that has the potential to revolutionize the way the trading floor operates. With both new ventures, Millennium is well on its way to becoming a top-tier financial tech provider as they continue to invest in their technological capabilities.
Apart from the Miami-based training program, Millennium is also contributing to the growth of the local tech scene and ecosystem through the hiring of local talent. Bianca Chan, an Insider reporter, had the chance to speak to Olga Naumovich about the training program, the types of technologists Millennium is looking for and the firm’s tech ambitions in Miami. All in all, Millennium’s new Miami-based engineering program is looking to pave the way for a new wave of tech talent in the city.
