(Bloomberg) -- Citadel Securities LLC has hired Millennium Management LLC’s Vikesh Kotecha as its Asia-Pacific head, as the market-making firm expands its business in the region. 

Kotecha will start later this year and be based in Hong Kong, the Miami-based company said in a statement on Thursday. He will report directly to Chief Executive Officer Peng Zhao. 

In the newly created role, Kotecha will drive the firm’s continued growth in the region. He will work closely with the company’s top management as well as local stakeholders including regulators, clients and business partners, according to the statement.

“Asia-Pacific markets are poised for continued long-term growth and development,” Zhao said in an emailed statement. 

Kotecha was head of Asia equities at Millennium, the $62 billion hedge fund firm that he joined from UBS Group AG in 2020. Bloomberg News reported his departure earlier this month. 

Founded by billionaire Ken Griffin in 2002, Citadel Securities has six offices in the Asia-Pacific region, where it has doubled the number of employees over the past three years to more than 250. 

Citadel Securities operates in more than 50 markets, trading more than $400 billion a day. Some 23% of equity market volume in the US is executed through the company’s platform.

(Updates with comments from Zhao and details about company)

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