Schonfeld to open Zurich office after hiring two Millennium PMs

Schonfeld Strategic Advisors plans to open an office in Zurich later this year after hiring portfolio managers Yohan Hwang and Pierre Kling from Millennium Management. Both are expected to be based in Zurich. Representatives for both firms declined to comment, and Hwang and Kling did not respond to requests for comment.

The New York-headquartered multi-strategy firm plans the office to expand its European presence and add investment staff. Switzerland hosts multiple alternative managers and has an established investment infrastructure; Millennium operates in Geneva and Zug, while Brevan Howard and Taula Capital Management maintain offices in Geneva.

Schonfeld has roughly doubled assets under management to about $20 billion over the past two years. The firm has added strategies to its credit platform, including convertible arbitrage and structured credit, and has made hires in its macro investing business.

Hwang spent about six years at Millennium and previously worked at Element Capital Management. Kling spent more than three years at Millennium and earlier worked at Bell Rock Capital Management for around five years.

The Zurich office is expected to open later this year and will house the newly recruited portfolio managers as Schonfeld builds its European operations. The hires and office expansion align with a broader pattern of multi-strategy firms distributing teams across more locations to access different talent markets and provide local coverage for regional opportunities.