ExodusPoint Capital Management has launched legal proceedings against former global macro portfolio manager George Saghir, alleging that he breached a non-compete agreement after joining rival hedge fund Schonfeld Strategic Advisors earlier this month, according to a report by Bloomberg.
The multi-strategy filed a lawsuit in New York on Thursday seeking to prevent Saghir from working for Schonfeld until his contractual restriction expires on 18 October. According to the complaint, Saghir began his new role on 2 September, despite being subject to a one-year non-compete following his departure from ExodusPoint.
ExodusPoint is seeking an order requiring Saghir to remain away from the rival firm for the remaining period of the agreement.
The firm argues that the restriction is particularly important because of Saghir’s specialist expertise in global macro trading. In the lawsuit, ExodusPoint describes him as an experienced portfolio manager and economist whose investment approach involved trading across multiple asset classes and regions in response to broad economic and geopolitical developments.
The hedge fund claims Saghir was closely involved in developing fixed-income strategies based on major public economic announcements and is concerned that the knowledge and strategies he acquired during his time at ExodusPoint could now be applied at Schonfeld.
ExodusPoint also points to a series of potentially market-moving macro events expected before the non-compete expires, including the release of September economic data in early October. The firm argues that allowing Saghir to continue working at Schonfeld during that period could put the two firms in direct competition.
Schonfeld itself has been involved in a separate legal dispute over a senior hire this year. The firm sued former Millennium portfolio manager Adam Grunfeld in April over allegations that he backed away from an agreement to join the firm. Schonfeld claimed Grunfeld had agreed to pay $11m if he withdrew from the deal, while Grunfeld disputed the firm’s characterisation of the payment, saying it related to a signing bonus he had not received.
Saghir joined ExodusPoint in 2022 after spending roughly a decade at Graham Capital Management. ExodusPoint said in its lawsuit that he received tens of millions of dollars during his time at the firm.
He resigned in October 2025 and subsequently approached ExodusPoint in April to request a waiver from his non-compete, according to the complaint. The firm did not agree to release him from the restriction.
ExodusPoint, founded by Michael Gelband, has more than 700 employees worldwide, including over 100 portfolio managers, according to the lawsuit. The firm manages about $15bn across its multi-strategy platform. Its hedge fund returned 1.4% in August, taking its gain for the year to 4.9%.
