ExodusPoint filed its case, ExodusPoint Capital Management LP v. George Saghir, in New York State Supreme Court in New York County on Thursday. The complaint states that Saghir arrived at ExodusPoint in 2022 following roughly a decade at Graham Capital Management, received eight-figure compensation while at ExodusPoint, and resigned in October 2025. He allegedly reached out in April to ask for a waiver of his one-year non-compete, which runs through Oct. 18, but then began working at Schonfeld on Sept. 2.
ExodusPoint portrays Saghir as a "highly specialized" portfolio manager and economist who trades macroeconomic and geopolitical themes across assets and regions, calling him "one of the most experienced specialists in this trading niche." The firm says he helped craft its fixed-income approaches, including reactions to public announcements such as Wednesday's Federal Reserve interest-rate hike. ExodusPoint told the court it is "extremely concerned" he could now use similar methods at Schonfeld during a particularly sensitive stretch. It wrote that "significant macroeconomic events are scheduled to occur during the remainder of Saghir's non-compete period, including the release of September's macroeconomic data in early October," and that if he keeps working at Schonfeld, ExodusPoint would be "forced to trade against him directly in contravention of the parties' bargained-for agreement."
The suit lands amid a heated hiring market at multistrats. Earlier this year, Schonfeld filed suit against former portfolio manager Adam Grunfeld, asserting he backed out of a March agreement to leave Millennium and that the deal obligated him to pay $11 million in the event he pulled out. Grunfeld contends that the $11 million figure represented a signing bonus he never actually received.
Schonfeld, which manages more than $22 billion, has additionally hired people who previously worked at Squarepoint Capital, Citadel, and competing firms. ExodusPoint, a $15 billion multistrategy firm with more than 700 employees worldwide and over 100 portfolio managers, said its hedge fund rose 1.4% in August and was up 4.9% year to date.
Legal disputes remind investors that steady strategies protect capital through uncertain professional shifts. Join Briefs Finance CEO Jaspreet Singh on September 29th for a FREE live investor workshop, How to Profit From A Dollar That's Losing its Value, where he shows how we're spotting investment opportunities as the dollar falls. Save your spot.
When high-profile macro traders change desks, firms often sprint to court to guard playbooks and timing edges. If the strategies really hinge on data drops and central bank moves, who is allowed to trade them and when can ripple into how these funds position into the next few weeks of macro releases. For everyday portfolios, it is a reminder that outcomes can depend as much on the people and processes behind the trades as on the markets themselves.
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