Hedge fund ExodusPoint Capital Management stopped Bhavit Sawjani, a marquee hire and Dubai-based portfolio manager who led a six-member team, from trading late last year following losses of more than $70 million.
While Sawjani is still employed by ExodusPoint, he’s no longer running money for the multistrategy firm, according to people with knowledge of the matter. His crew has been disbanded, the people said, asking not to be identified because the details are private.