Millennium Management Hires Ex-New York Fed Official Simon Potter

(Bloomberg) -- Millennium Management has recruited former New York Federal Reserve official Simon Potter, according to people familiar with the matter.

Millennium, which manages almost $44 billion in assets, hired Potter in June as vice chairman, fixed income, to be an adviser to the hedge fund's debt portfolio managers, the people said, asking not to be identified as the details are private. He reports to the division's co-heads Mark Tsesarsky and John Anderson, the people said.

Potter and a spokesperson for Millennium, which was founded by billionaire Izzy Englander, both declined to comment.

Prior to this move, Potter was a non-resident senior fellow at the Peterson Institute for International Economics from September 2019, according to the organization's website. That was a role he took on following his departure from the New York Fed in the middle of last year.

Potter served as head of the New York Fed's strategically vital trading desk, known as the markets group, for seven years from 2012. During this time, he oversaw the conclusion of the central bank's massive bond-buying program known as quantitative easing, and the subsequent unwind of a portfolio of then-historic proportions. He was also instrumental in the design of the bank stress tests that underpinned the Fed's financial stability efforts.

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More recently, Potter turned his focus to the potential benefits of using digital payment systems as a monetary tool to respond quickly to crises.

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