Multi-manager hedge fund ExodusPoint Capital Management has appointed Mehmet Bayraktar as its new Head of Equity Risk, strengthening its risk management team with an experienced quantitative investment specialist, according to a report by eFinancial Careers.

Bayraktar joins the New York-based firm after the closure of AB Arya Partners, the hedge fund business backed by AllianceBernstein, which ceased operations earlier this year.

He brings extensive experience across several of the industry's largest multi-manager platforms and investment banks. Prior to joining AB Arya Partners, Bayraktar served as Co-Head of Equity Risk at Balyasny Asset Management, Portfolio Construction Lead at Point72, and Head of Equity Model Research at Citadel. Earlier in his career, he held quantitative research roles at Goldman Sachs, Morgan Stanley and Barclays.

His appointment continues a broader recruitment drive by ExodusPoint following the wind-down of AB Arya Partners.

Earlier this year, the firm also hired former AB Arya portfolio managers Tim Lash and Steve Rettke, who joined to manage technology, media and telecommunications (TMT) and healthcare investment strategies, respectively. Both portfolio managers had previously worked at Millennium Management before moving to AB Arya.

The latest appointment reflects the ongoing competition among multi-manager hedge funds to recruit experienced investment and risk professionals as firms continue to expand their platforms while taking advantage of talent becoming available following fund closures and restructurings across the industry.