Hedge fund ExodusPoint hired a London PM and moved him to Dubai

Hedge fund ExodusPoint has been hiring portfolio managers in London recently, but they're not staying as portfolio managers in London. One recent hire is moving to Dubai, while the other is giving up his PM title.

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Berhe Tesfayohannes has joined ExodusPoint in Dubai as a PM. He spent the last three and a half years at PIMCO, where he was also a PM, primarily focused on FX options. He also spent time on the trading desks of multiple banks in London; he was a macro FX trader at Singaporean bank DBS, and worked on FX options and structuring at HSBC. Tesfayohannes also briefly worked in commodity derivatives prop trading with London prop firm Mandara Capital.

ExodusPoint's biggest recent hire in Dubai was Adrian Ahmadi, who was brought in from Point72 a year ago to run a long/short equity pod. Ahmadi appears to have been hiring recently; Emmanuele di Gennaro, a Morgan Stanley investment banking associate in Milan, moved to ExodusPoint's Dubai office back in March to work on long/short equity trading. The fund set up its Dubai office in 2022; it's not clear how many people work there, but its entity has five authorized individuals on the Dubai Financial Services Authority database.

Moving to a hedge fund in Dubai can be a gamble. Portfolio managers praise the lifestyle, but note that hiring and firing is a frequent occurrence. 

Back in London, ExodusPoint also hired Jorn Grodeland, a long-serving portfolio manager of London hedge fund Brevan Howard. He won't be working as a PM, however, and will be working in a support role for an existing ExodusPoint PM (it's not clear which). Grodeland spent 17 years at Brevan Howard, and was previously working an FX exotic options trader at RBS.

ExodusPoint declined to comment.

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