Tower Hires Millennium Veteran to Lead MFT Push
New York trading firms hiring senior technologists are competing directly for talent as medium-frequency strategies expand.
Updated on Nov. 3, 2026 in Job Search
Tower Research has hired Marvin Arteaga as head of MFT strategies, a role based in New York. Arteaga previously spent 12 years at Millennium, mostly as head of algo execution technologies.
Why it matters
Tower has been building out its medium-frequency trading (MFT) capabilities for years, and this hire adds a veteran technologist from a rival multi-strategy firm to that push. For New York operators in quantitative finance and trading technology, it signals continued competition for senior engineering talent among firms in the city.
Arteaga brings roughly 19 years of combined experience, 12 of them at Millennium and seven in algo development at Bank of America before that. The role is hybrid and based in New York.
The players
Tower Research Capital
A New York-based quantitative trading firm that operates high-frequency and medium-frequency trading strategies.
Millennium Management
A multi-strategy hedge fund manager with a large quantitative and technology operation.
The details
MFT strategies typically hold positions for minutes to days, while HFT strategies hold positions for microseconds or less, so the two approaches demand different infrastructure and execution tooling. Arteaga's background in algo execution technology at Millennium maps directly onto the systems needed to run that kind of strategy. He also worked remotely during his final year at Millennium as a liquidity provision technology manager before departing.
Timeline
Arteaga began his algo development work at Bank of America roughly seven years before joining Millennium.
Millennium hired Tower's CTO Alexandre Fournier earlier in 2026.
Wesley Chen, Tower's co-head of investment grade credit trading, joined Millennium as a portfolio manager in June 2026.
Tower hired Arteaga as head of MFT strategies on November 3, 2026.
Market Landscape
Tower and Millennium have been trading senior people in both directions, with Millennium hiring Tower's CTO earlier in 2026 and Tower now hiring a Millennium technology head. The move places Tower's MFT expansion against Millennium's established quantitative technology bench.
Operators hiring senior trading or quantitative technology talent in New York should expect competitors to recruit from established multi-strategy firms. Firms in this space may need to review compensation and retention terms for their most experienced engineers.
The takeaway
Senior technology hires in quantitative trading are moving between direct competitors in New York, and firms competing for this talent should track where their key people are being recruited. Operators in the sector should review retention and hiring plans with their finance and HR leads.
Further reading
Browse current openings in the Job Search section for more on how finance and trading technology roles are being filled in New York City.
Source note: This article includes information reported by EFinancialCareers.
