HedgeCo.Net — Citadel and ExodusPoint have each lost senior members of their London macro trading teams as difficult market conditions pressure portfolio managers across the hedge fund industry, according to eFinancialCareers. The report cited estimates that as many as 100 macro investment professionals have left or lost their positions across London’s hedge fund sector.
At Citadel, senior macro volatility portfolio manager Avi Tullu left in September, a year after joining from Pimco, and Simon Roach, a former head of EMEA rates trading at Merrill Lynch, left in October after more than a decade at the firm. At ExodusPoint, senior macro analyst Soham Sengupta left in October after joining in December 2025. Foreign exchange trader Rupert Guest, who arrived from Barclays in January 2025, and Jim McKeever, who joined from Caxton Associates in 2024, have also departed, according to Financial Conduct Authority records.
Citadel is still hiring across macro. It recently added HSBC foreign exchange trader Vineet Mudgil, Emaad Alvi from Tudor Investment Corporation and Max Dykes from RBC, and it strengthened its New York rates team with Pedro Goldbaum from Deutsche Bank.
The pattern is consistent with how platform managers operate: turnover at the portfolio manager level is a feature of the model, with underperformers cut quickly and replacements recruited from banks and rival funds. For macro specialists, the churn suggests a narrower set of seats and a higher bar to keep them.