Key Takeaways
- • ExodusPoint, an $8 billion multi-strategy hedge fund founded by Michael Gelband (former fixed income trader at Millennium Management), has added at least five experienced portfolio managers and specialists across London and New York offices in the two months prior to August 2018, signaling aggressive growth trajectory for the startup.
- • Recent hires span senior roles across multiple disciplines: James ter Haar (senior credit portfolio manager from Caxton Associates), Thierry Hue (exchange connectivity and algo trading expert from Morgan Stanley), Daulat Khatik (data analysis specialist from WorldQuant), Anthony Piscionere (junior rates relative value trader from DRW), and Felipe Freitas (senior emerging markets portfolio manager from CSHG Gauss).
- • ExodusPoint has begun recruiting junior-level talent and analysts—including Jason Brod as an analyst and an intern—indicating a shift toward building internal training pipelines, a practice increasingly common across the hedge fund industry.
- • The $8 billion fund opened its London office in April 2018 and maintains established operations in New York, with hiring activity concentrated in both locations as the firm scales operations beyond its initial New York base established earlier in 2018.
Summary
ExodusPoint, the $8 billion multi-strategy hedge fund founded by Michael Gelband, is executing an aggressive hiring campaign across its London and New York offices, with recruitment activity accelerating in mid-2018. The fund has added at least five experienced professionals and has begun recruiting junior-level talent, indicating both rapid expansion and a shift toward developing internal talent pipelines.
Gelband, a former star fixed income trader at Millennium Management, launched ExodusPoint with operations centered initially in New York (East 55th Street office established at the start of 2018) before expanding internationally with a London office opened in April 2018. Despite limited timeframe for establishment, the fund is already attracting senior talent from established institutions across multiple investment disciplines.
Recent senior hires underscore the fund's focus on diversifying investment capabilities. James ter Haar joined as senior credit portfolio manager, bringing experience from hedge fund Caxton Associates and prior tenure at Millennium Management. Thierry Hue, who held the position of head of algo trading at Morgan Stanley and previously worked at Deutsche Bank, joined in July to lead exchange connectivity initiatives. Daulat Khatik, a data analysis specialist from WorldQuant (founded by former Millennium Management MD Igor Tulchinsky), arrived in August. In New York, Anthony Piscionere joined from prop trading firm DRW as a junior rates relative value trader, while Felipe Freitas, a senior emerging markets portfolio manager, transitioned from CSHG Gauss, an investment management firm with Credit Suisse connections.
The addition of Jason Brod as an analyst and recruitment of an intern suggests ExodusPoint is following industry trends toward building proprietary talent development programs. This approach reflects broader hedge fund industry dynamics, as established firms increasingly prioritize training and retention of junior professionals rather than relying exclusively on lateral hires from competitors.
Gelband, a former star fixed income trader at Millennium Management, launched ExodusPoint with operations centered initially in New York (East 55th Street office established at the start of 2018) before expanding internationally with a London office opened in April 2018. Despite limited timeframe for establishment, the fund is already attracting senior talent from established institutions across multiple investment disciplines.
Recent senior hires underscore the fund's focus on diversifying investment capabilities. James ter Haar joined as senior credit portfolio manager, bringing experience from hedge fund Caxton Associates and prior tenure at Millennium Management. Thierry Hue, who held the position of head of algo trading at Morgan Stanley and previously worked at Deutsche Bank, joined in July to lead exchange connectivity initiatives. Daulat Khatik, a data analysis specialist from WorldQuant (founded by former Millennium Management MD Igor Tulchinsky), arrived in August. In New York, Anthony Piscionere joined from prop trading firm DRW as a junior rates relative value trader, while Felipe Freitas, a senior emerging markets portfolio manager, transitioned from CSHG Gauss, an investment management firm with Credit Suisse connections.
The addition of Jason Brod as an analyst and recruitment of an intern suggests ExodusPoint is following industry trends toward building proprietary talent development programs. This approach reflects broader hedge fund industry dynamics, as established firms increasingly prioritize training and retention of junior professionals rather than relying exclusively on lateral hires from competitors.
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