ExodusPoint Co-Founder Steps Down as Equities Head to Be Adviser
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ExodusPoint Capital Management co-founder Hyung Lee stepped down as head of equities and is now an adviser to the firm, according to people familiar with the matter.
Lee and Michael Gelband started ExodusPoint in 2018 — attracting $8 billion, making it the largest-ever hedge fund debut. Since then, the equities business has struggled to take off and fixed income — overseen by Gelband — has accounted for much of the firm’s returns.