Key Takeaways
- • ExodusPoint Capital has lost two senior macro portfolio managers from its Dubai operation, Chris Wheeler and Daniel Dangoor, less than a year after their appointments, according to Business Insider.
- • The $15.5bn multi-strategy fund founded by Michael Gelband is losing macro talent at a time when discretionary macro strategies face difficult trading conditions.
- • Wheeler joined in December 2025 from BlueCrest Capital and Citadel; Dangoor joined in June 2026 after a year at Goldman Sachs in London, where he headed macro thematic trading.
- • ExodusPoint returned 4.1% in the first nine months of 2026 after a 0.7% decline in September, trailing several equity-focused multi-strategy peers.
- • PivotalPath's discretionary macro index returned 3.5% through September, versus the broader hedge fund industry composite's 6.7% gain.
Summary
ExodusPoint Capital has lost two senior macro portfolio managers from its Dubai office less than a year after their appointments, according to a report by Business Insider. Chris Wheeler and Daniel Dangoor, who each managed independent macro investment teams from the Dubai office, have both departed the $15.5bn multi-strategy hedge fund founded by Michael Gelband. The two joined the firm in separate moves within the past 12 months.
Wheeler joined ExodusPoint in December 2025 after previous roles at Michael Platt's BlueCrest Capital and Ken Griffin's Citadel. Dangoor arrived in June 2026 after a year at Goldman Sachs in London, where he headed macro thematic trading. His earlier employers include SPX Capital and Brevan Howard. The specific strategies the two managed and the circumstances of their departures have not been disclosed.
The departures come amid a difficult period for macro hedge funds, as unexpected interest rate increases and fiscal uncertainty across Europe have disrupted trading strategies. Political and budgetary turmoil in France has been a particular source of market volatility, contributing to losses across several macro trading desks.
Performance data cited in the report underscores the pressure. PivotalPath's discretionary macro index returned 3.5% through September, trailing the broader hedge fund industry composite's 6.7% gain. ExodusPoint returned 4.1% in the first nine months of 2026 after declining 0.7% in September, lagging several of its more equity-focused multi-strategy peers.
Wheeler joined ExodusPoint in December 2025 after previous roles at Michael Platt's BlueCrest Capital and Ken Griffin's Citadel. Dangoor arrived in June 2026 after a year at Goldman Sachs in London, where he headed macro thematic trading. His earlier employers include SPX Capital and Brevan Howard. The specific strategies the two managed and the circumstances of their departures have not been disclosed.
The departures come amid a difficult period for macro hedge funds, as unexpected interest rate increases and fiscal uncertainty across Europe have disrupted trading strategies. Political and budgetary turmoil in France has been a particular source of market volatility, contributing to losses across several macro trading desks.
Performance data cited in the report underscores the pressure. PivotalPath's discretionary macro index returned 3.5% through September, trailing the broader hedge fund industry composite's 6.7% gain. ExodusPoint returned 4.1% in the first nine months of 2026 after declining 0.7% in September, lagging several of its more equity-focused multi-strategy peers.
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