Key Takeaways
- • ExodusPoint Capital Management plans to expand its Asian workforce by nearly 80% in 2026, growing from 56 employees at year-start to approximately 100 by year-end across Hong Kong, Singapore, and Tokyo.
- • The hedge fund hired 36 employees from Ovata Capital Management following an agreement announced in June, in which James Chen, former Ovata CIO, joined ExodusPoint as head of Asia equities while winding down Ovata's $1.5bn fund.
- • ExodusPoint has secured over 20,000 square feet of office space across three Asian locations, positioning the firm to accommodate up to 180 employees as it scales its regional platform.
- • The expansion brings ExodusPoint's total regional lead portfolio managers to 14, with Steve Ji Xu heading the macro business alongside Chen's equities leadership; Chen brings prior experience from Barclays and BlueCrest, while Xu has trading backgrounds from Goldman Sachs and JPMorgan.
- • ExodusPoint, founded by former Millennium executive Michael Gelband in 2017, manages close to $15bn globally with over 700 employees and more than 100 portfolio managers, marking a significant regional buildout for the multi-strategy hedge fund.
Summary
ExodusPoint Capital Management is executing a substantial expansion of its Asian operations, nearly doubling its regional headcount this year through a combination of organic hiring and the strategic recruitment of an entire team from Ovata Capital Management. The multi-strategy hedge fund plans to grow from 56 employees across Hong Kong, Singapore, and Tokyo at the beginning of 2026 to approximately 100 by year-end—representing an 79% increase in regional workforce.
The centerpiece of this expansion is the June agreement under which James Chen, former chief investment officer at Ovata, joined ExodusPoint as head of Asia equities. Chen's arrival initiated the transition of 36 former Ovata employees into ExodusPoint's Asian operations, accounting for the majority of the planned headcount increase. Concurrent with the team hire, Ovata began winding down its $1.5bn hedge fund. Chen brings significant regional experience, having previously served as a managing director at Barclays and led BlueCrest Capital Management's Asia equities investment operation.
Supporting the equities expansion, Steve Ji Xu assumed leadership of ExodusPoint's macro business in Asia. Xu's background includes trading roles at Goldman Sachs and JPMorgan, followed by hedge fund experience at Capula Investment Management. With these appointments, ExodusPoint's Asia platform now has 14 lead portfolio managers.
To accommodate growth ambitions, the firm has secured more than 20,000 square feet of office space across its three Asian hubs, providing capacity for up to 180 employees. This infrastructure buildout underscores ExodusPoint's commitment to scaling its regional presence. ExodusPoint, founded in 2017 by former Millennium executive Michael Gelband, manages close to $15bn globally and employs more than 700 people worldwide, including over 100 portfolio managers across all strategies. The firm declined to comment beyond the information disclosed.
The centerpiece of this expansion is the June agreement under which James Chen, former chief investment officer at Ovata, joined ExodusPoint as head of Asia equities. Chen's arrival initiated the transition of 36 former Ovata employees into ExodusPoint's Asian operations, accounting for the majority of the planned headcount increase. Concurrent with the team hire, Ovata began winding down its $1.5bn hedge fund. Chen brings significant regional experience, having previously served as a managing director at Barclays and led BlueCrest Capital Management's Asia equities investment operation.
Supporting the equities expansion, Steve Ji Xu assumed leadership of ExodusPoint's macro business in Asia. Xu's background includes trading roles at Goldman Sachs and JPMorgan, followed by hedge fund experience at Capula Investment Management. With these appointments, ExodusPoint's Asia platform now has 14 lead portfolio managers.
To accommodate growth ambitions, the firm has secured more than 20,000 square feet of office space across its three Asian hubs, providing capacity for up to 180 employees. This infrastructure buildout underscores ExodusPoint's commitment to scaling its regional presence. ExodusPoint, founded in 2017 by former Millennium executive Michael Gelband, manages close to $15bn globally and employs more than 700 people worldwide, including over 100 portfolio managers across all strategies. The firm declined to comment beyond the information disclosed.
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.