It may not exactly have prompted the outflow of people from Millennium Capital Management that some expected, but hedge fund ExodusPoint is nonetheless spurring movement in London and New York as the $8bn hedge fund start-up gets going. There are even indications of an appetite to bring-in juniors.
By our reckoning the multi-strategy fund set up by Michael Gelband, a former star fixed income trader at Millennium Management, has added at least another five experienced people in London and New York in the past two months. It also brought on an analyst and an intern.
ExodusPoint's newest London hires are: James ter Haar, a senior credit portfolio manager who spent the previous year and a half at hedge fund Caxton Associates (and was at Millennium before that); Thierry Hue, an expert in exchange connectivity who's worked for Deutsche Bank and Morgan Stanley (he was also Morgan Stanley's former head of algo trading); and Daulat Khatik, a specialist in data analysis from WorldQuant, the quantitative analysis fund founded by Igor Tulchinsky (himself another former MD at Millennium).
Hue joined in July; ter Haar and Khatik turned up in August.
ExodusPoint opened its London office in April 2018. The fund is more established in New York City, where it's had an office on East 55th Street since around the start of this year. Even so, it's still hiring in midtown as well. Since July, Gelband's fund brought on Anthony Piscionere, a junior rates relative value trader who previously worked for prop trading firm DRW investments, and Felipe Freitas, a senior emerging markets portfolio manager who came from CSHG Gauss, an investment management company with links to Credit Suisse.
As hedge funds everywhere move towards training their own staff, there are signs that ExodusPoint may also be moving in this direction. The fund added Jason Brod as an analyst in New York. Brod previously spent two and a half years at Credit Agricole and six months at Markit and may have joined in the middle office. ExodusPoint gave a four week internship to Thomas Ho Kwan Fung, who's currently studying a Masters in applied mathematics at Columbia University. During the internship Fung said he was mentored by George Attokkaran, a former BofA risk manager who joined ExodusPoint in April.
Other aspiring juniors might want to approach Attokkaran directly: for the moment, ExodusPoint doesn't even seem to have its own website, let alone an organised graduate recruitment program.