ExodusPoint to boost Asia workforce by nearly 80% following Ovata team hire

ExodusPoint Capital Management is set to more than double its workforce in Asia this year, bolstering the firm's regional operations following the acquisition of talent from Ovata Capital Management, according to Bloomberg. Michael Gelband, founder of ExodusPoint, founded the firm in 2017 and now employs over 700 staff globally, with 100 workers currently located in Hong Kong, Singapore and Tokyo.

By the end of 2026, ExodusPoint anticipates expanding its Asia team to 100 employees, up from 56 at the beginning of the year. The firm has also secured over 20,000 square feet of office space across the three locations, capable of accommodating 180 employees. A key figure in this expansion is James Chen, who previously served as the chief investment officer at Ovata and is joining ExodusPoint as head of Asia equities.

Chen will be managing equities across the region, with Steve Ji Xu leading the macro business. Chen's move is accompanied by 36 former Ovata personnel, significantly contributing to the anticipated increase in headcount. Chen previously held roles at Barclays and BlueCrest Capital Management, while Xu has experience at Goldman Sachs and JPMorgan before joining Capula Investment Management.

The additional hires will increase the number of lead portfolio managers in the region to 14. ExodusPoint's property commitments in Hong Kong and Singapore reflect the firm's ambitious plans. In Hong Kong, the firm is expanding its office in Prosperity Tower by 11,000 square feet, with 50 employees expected by year-end. In Singapore, where the firm has its longest-established office, ExodusPoint is increasing its footprint in Ocean Financial Centre by nearly 70%, with the current lease running until mid-2032.