BofAML's Chhabra Named President of Simons Family Office

Jul 21 2015 | 11:22am ET

Billionaire mathematician James Simons has brought former BofA Merrill Lynch Wealth Management CIO Ashvin Chhabra aboard to help run his family office. 

Chhabra will join Simons’ Euclidean Capital as president in September, according to a Bloomberg article citing unidentified individuals familiar with the matter. 

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 $20 billion in mostly quantitative strategies. He founded Euclidean in 2009 and retired from Renaissance in 2010, remaining non-executive chairman. 

Chhabra, who reportedly has known Simons for more than decade, will assist in the general operations of the office, presumably those involving investment decisions as well as philanthropic activities. Simons has been active in funding autism research and founded Math for America, which seeks to improve public schools, in 2004.

He has worked at BofAML Merrill Lynch in 2013. Beforehand, Chhabra was CIO for the Princeton-based Institute for Advanced Study, where he worked together with Simons as part of his interaction with the institute’s investment committee. 

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