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Steve Barbo is leaving $12 billion ExodusPoint, a person close to the firm told Business Insider. The role will now be done by the firm's chief financial officer, Erik Addington. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementOne of ExodusPoint's early hires, treasurer Steve Barbo, is leaving the firm. A person close to the firm said Barbo's role will now be a part of chief financial officer Erik Addington's responsibilities.
Persons: Steve Barbo, Barbo, Erik Addington, , Michael Gelband, Hyung Lee, Erik Addington's Organizations: Business, Service, New, Millennium Locations: New York City
February performance figures show a mixed-bag at the top multi-strategy hedge funds. Citadel, continuing its winning streak, is up 2.8% so far, while Millennium is up just 0.5%. Some of the largest multi-strategy hedge funds had killer years in 2022 while much of the industry struggled. An unlikely winner is off to a torrid start after a challenging year in 2022: ExodusPoint is up 2.9% through February on the back of a 2% gain during the short month, according to people familiar with the matter. Citadel has continued its winning streak after record-breaking performance in 2022, up 2.8% this year, sources told Insider.
a hedge fund recruiter said, commenting on the calculus for hedge fund investors. At the end of 2021, the fund's exposure had been evenly split between fixed-income and equities, according to the investor documents. In all, more than 60 portfolio managers departed or were let go in 2022, according to the investor documents and people close to the matter. After the shakeup, ExodusPoint's income stream is now even more reliant on fixed-income trading — and that may not be such a bad thing. "The fixed income piece is doing incredibly well," another hedge fund recruiter said.
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