Hedge fund giant Millennium hires former UBS Asia-Pacific head of stock derivatives.

Millennium Management has hired Ernest Ng, former head of stock derivatives at UBS Group in Asia-Pacific, in another move by the $73 billion investment giant to recruit investment bank executives to expand its business. According to sources, Ernest Ng will join Millennium as a senior portfolio manager. Ng will be working alongside his former UBS colleague Ken Pang, who currently leads Millennium's Asia-Pacific stock business.