Key Takeaways
- • ExodusPoint, the $8.5 billion hedge fund founded by Michael Gelband, has been actively hiring across middle and back-office functions approximately one year after launching operations, signaling continued infrastructure buildout despite slowing portfolio manager recruitment.
- • The firm recruited senior infrastructure talent including Sonny Baillargeon (global head of infrastructure, formerly at KCG and Citadel) and Pritam Dahake (cloud solutions architect), alongside Thomas Kurtzman from J.P. Morgan as head of trade surveillance and Jonathan Hantler as compliance officer.
- • ExodusPoint's initial goal of establishing 30 portfolio manager-led teams appears to have been met or approached, with recent hiring shifts toward support functions: equity traders across New York and London locations, three market data analysts, and a quant developer from UBS.
- • The fund has doubled its New York office headcount within nine months of launch and continues aggressive hiring, particularly in New York, indicating scaling operations while maintaining operational discipline through infrastructure and compliance recruitment.
Summary
ExodusPoint, the $8.5 billion hedge fund startup founded by Michael Gelband, has transitioned its hiring strategy from front-office portfolio manager recruitment to systematic buildout of middle and back-office infrastructure, roughly one year after commencing client asset trading operations. The shift in recruitment focus reflects a maturing organizational structure typical of rapidly scaling alternative investment platforms moving beyond initial team assembly.
The firm's recent hiring wave has brought on several senior operational and technology figures. Sonny Baillargeon joined as global head of infrastructure, bringing experience from infrastructure roles at KCG and Citadel, while Pritam Dahake, a cloud solutions architect with financial services experience, was hired to manage cloud administration. These infrastructure appointments were accompanied by Thomas Kurtzman's recruitment from J.P. Morgan as head of trade surveillance and Jonathan Hantler's arrival from Oz Management and Bridgewater Associates to lead compliance operations. Quant developer Tanzim Hoque, sourced from UBS, further supplemented the technology team.
The composition of recent hires underscores ExodusPoint's shift in recruitment priorities. While the firm's initial ambitious target of 30 portfolio manager-led teams appears to have been substantially achieved, slowing PM recruitment has given way to hiring equity traders in both New York and London locations and deploying three market data analysts in the New York office. This strategic rebalancing toward support functions—spanning infrastructure, compliance, surveillance, and quantitative development—reflects the operational demands of managing an $8.5 billion fund with a diversified portfolio manager base.
ExodusPoint has maintained performance disclosure discipline since launch, declining to release official results, though the firm has continued its recruitment momentum with particular intensity in the New York office. The aggressive hiring across middle and back-office functions, combined with the fund's earlier decision to double its New York office within nine months of commencement, indicates sustained growth trajectory and infrastructure investment despite the transition from initial team establishment to operational stability.
The firm's recent hiring wave has brought on several senior operational and technology figures. Sonny Baillargeon joined as global head of infrastructure, bringing experience from infrastructure roles at KCG and Citadel, while Pritam Dahake, a cloud solutions architect with financial services experience, was hired to manage cloud administration. These infrastructure appointments were accompanied by Thomas Kurtzman's recruitment from J.P. Morgan as head of trade surveillance and Jonathan Hantler's arrival from Oz Management and Bridgewater Associates to lead compliance operations. Quant developer Tanzim Hoque, sourced from UBS, further supplemented the technology team.
The composition of recent hires underscores ExodusPoint's shift in recruitment priorities. While the firm's initial ambitious target of 30 portfolio manager-led teams appears to have been substantially achieved, slowing PM recruitment has given way to hiring equity traders in both New York and London locations and deploying three market data analysts in the New York office. This strategic rebalancing toward support functions—spanning infrastructure, compliance, surveillance, and quantitative development—reflects the operational demands of managing an $8.5 billion fund with a diversified portfolio manager base.
ExodusPoint has maintained performance disclosure discipline since launch, declining to release official results, though the firm has continued its recruitment momentum with particular intensity in the New York office. The aggressive hiring across middle and back-office functions, combined with the fund's earlier decision to double its New York office within nine months of commencement, indicates sustained growth trajectory and infrastructure investment despite the transition from initial team establishment to operational stability.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.