Asia-focused multi-strategy hedge fund Dymon has recruited a former Millennium PM in a bid to build out its equity relative value business.

Shao Ying joined the firm as head of linear equity relative value earlier this month, it is understood.

In her new role, Ying will lead the firm’s efforts to advance its equity relative value business, Dymon Asia said in a statement.

Ying made the move following a stint at Millennium, where she ran a pod focused on index rebalancing strategies from the multi-strategy firm’s Hong Kong office, according to previous media reports. She spent about five years at the $73bn firm before exiting in Q3 last year.

Before Millennium, Ying spent five years at Squarepoint Capital and seven-and-a-half at Goldman Sachs.

Ying’s move to Singapore-headquartered Dymon is the latest in a spate of recent hires at the multi-strategy firm. Earlier in April it emerged that the firm had recruited portfolio managers from Astignes and Southern Ridges.

Dymon has hired at least eight new portfolio managers this year, With Intelligence previously reported.