It’s no secret that AI labs like OpenAI are trying to hire bright young graduates from under the nose of hedge funds and trading firms. Some of the more experienced trading staff, however, are also interested in a change of scenery. 

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Charles Dillon, a senior PM of three years at Millennium, announced over the weekend that he was becoming a partner at Arb Research. It’s a consultancy that conducts “empirical and conceptual work in various sciences” according to Stripe (one of its clients). Prior to Millennium, Dillon spent eight years in electronic trading with Susquehanna, where he was an ETF trader and taught “weekly poker classes to new hires.” Dillon left Millennium at the start of last year, and had been working on an education technology startup providing AI exam coaching prior to the move.

Arb Research is co-founded by Gavin Leech, a PhD AI researcher with strong links to Dwarkesh Patel, ‘Silicon Valley’s favourite podcaster.’ Leech was head of research on Patel’s show, which recently had a viral interview with Anthropic CEO Dario Amodei. He also co-authored a book on the history of AI with Patel.

Dillon seems to be the first hire from financial services for Arb Research, which appears to have less than 15 employees. It is, however, backed by the philanthropy arm of quant hedge fund Renaissance Technologies.

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