New York hedge fund manager Millennium Management has hired at least 15 people in Asia since last year, growing as banks and funds cut staff, according to Bloomberg.

Recent hires include Singapore-based portfolio managers James Sullivan, David Bijaoui and Thierry Choffel.

A Millennium spokesman declined to comment.

Millennium, which oversees $11.5 billion of assets, is expanding its team as rivals such as Citadel Investment Group, Concordia Advisors LLC, Ramius and reduced jobs or closed offices in Asia to control costs and focus on their largest markets, Bloomberg said.