Hedge fund billionaire James Simons has poached former BofA Merrill Lynch Wealth Management CIO Ashvin Chhabra to run his family office, Euclidean Capital.
Chhabra will join Euclidean Capital as president in September 2015, Bloomberg has reported.
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Chhabra will assist in the general operations of the office, presumably those involving investment decisions as well as philanthropic activities.
Previously, Chhabra worked as managing director of wealth management at Merrill Lynch and also as head of quantitative research at JP Morgan. He also served as CIO at the Institute for Advanced Study, where he worked with the board of trustees’ investment committee, led by Simons.
Simons founded Renaissance Technologies in 1982 after a stints as an NSA cryptographic specialist and professor at Stony Brook University.
He built the fund into one of the most successful hedge funds in history, overseeing more than $20bn in mostly quantitative strategies.
He founded Euclidean in 2009 and retired from Renaissance in 2010, remaining non-executive chairman.
