A number of hedge funds are scaling back headcount as redemptions mount following a difficult 2018. Flush with a record $8.5 billion in seed money, ExodusPoint Capital Management is doing the exact opposite. Founded by Michael Gelband, a former star fixed income trader at Millennium Management, ExodusPoint is continuing to hire aggressively even after adding several dozen portfolio managers and traders during the second half of last year.
The latest big-name addition is Sanjay Rajpal, a former managing director at Deutsche Bank who has spent the last decade on the buy-side at Magnetar Capital and Cubist Systematic Strategies. While he’s a longtime PM, Rajpal has the educational background of a quant. He has two separate master’s degrees and a PhD in mathematics from Dartmouth College. Joining Rajpal at ExodusPoint is quant developer Chad Nobel, who’s new to finance, having spent the first few years of his career as a backend software engineer. Both started with the hedge fund last month in New York.
In addition, ExodusPoint just brought on a new head of equity risk from UBS’s hedge fund solutions group. Bill Park began with the firm earlier this month. The news was first reported by HFM Week. And those aren’t the first three hires by ExodusPoint this year. The firm added two other PMs – Nick Firoozye and Boyan Petrov – earlier this year.
The hedge fund startup made its presence felt on the buy-side in New York last fall when it doubled the size of its footprint in New York, despite opening its doors less than nine months earlier. It’s been poaching PMs, traders and analysts ever since.
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