Hedge fund ExodusPoint hires new head of AI from Balyasny
Hedge funds might have been implementing AI in their systems for years now, but with the world changing, many are deciding to shake things up. ExodusPoint Capital Management is the newest example; It's brought in a new head of artificial intelligence in the form of Balyasny's Shen Xu.
Xu spent the last two years at the rival hedge fund, where he was a portfolio manager and head of natural language processing, The bulk of his career however, over nine years, was spent at prop trading firm TradeLink whom he joined after graduating with his PhD in machine learning and neural networks.
ExodusPoint says Xu's goal is "enhancing [its] data science platform" and making its AI infrastructure "world class".
ExodusPoint is not the only hedge fund hiring AI expertise. Millennium brought in a high profile head of AI in Gideon Mann earlier this month. As for Balyasny, it might be struggling to hold onto its AI talent it already has; in addition to Xu's departure, head of machine learning Michael Rabadi, who's been at the hedge fund over three years, has a bio on his social media profile that simply says "non-compete." 👀
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