ExodusPoint is giving senior positions to a group of traders and investment professionals from Hong Kong hedge fund Ovata Capital as the US multi-manager expands its Asian operations, according to a report by eFinancial Careers.

The report cites unnamed people familiar with the m matter as saying the Ovata is winding down after employing roughly 40 people, with the majority of its team moving to ExodusPoint.

James Chen, Ovata’s former chief investment officer, has joined ExodusPoint as head of equities for Asia, while former Ovata head of trading Kiu Ng is set to become co-head of trading for the Asia-Pacific region.

Ng will share the role with Aaron Davis, a former senior trader at Balyasny Asset Management. Both report to Joe Marcogliese, ExodusPoint’s global head of trading and operations.

Ng joined Ovata after the collapse of Hong Kong hedge fund Segantii, where he spent five years and also served as head of trading. He previously worked for seven years as a sales trader at Citigroup.

The recruitment highlights ExodusPoint’s efforts to build out its Asian platform as other hedge funds continue to compete for experienced trading talent in the region.

Ovata’s team is also notable for its connection to Segantii, which shut down in 2024 and triggered intense competition among rival hedge funds for its staff.

The addition of approximately 40 employees could significantly increase ExodusPoint’s presence in Asia. The firm employed 75 people in the region in 2022, including 45 investment professionals, although its current regional headcount is unclear.

Globally, ExodusPoint’s workforce has expanded modestly, rising to 707 employees last month from 615 in 2022, according to regulatory filings.