Key Takeaways
- • Daniel Jones, a senior macro salesman at City broker JB Drax Honoré, has departed to join ExodusPoint, a US-based multi-strategy hedge fund, marking another talent loss for the derivatives broker.
- • Jones spent two years at JB Drax before leaving at the end of 2025, with his move to ExodusPoint's London office confirmed by regulatory filings as of February 4, 2026.
- • ExodusPoint is actively expanding its UK operations, using the hire as part of a broader London office bolstering strategy in the competitive hedge fund talent market.
- • The departure reflects ongoing staffing pressures at JB Drax, which has faced multiple senior trader exits to rival firms in recent years, including previous litigation over poaching to competitors like Marex.
Summary
JB Drax Honoré, a prominent City derivatives broker, has lost another senior trading professional to the hedge fund sector. Daniel Jones, who held a senior macro salesman position at the firm for two years, has joined ExodusPoint's London office, according to regulatory filings dated February 4, 2026. Jones departed JB Drax at the end of 2025 and transitioned to the US multi-strategy hedge fund, marking a notable talent shift in London's competitive financial services market.
The move reflects ExodusPoint's strategic expansion of its UK presence. As a multi-strategy hedge fund based in the United States, ExodusPoint has been actively bolstering its London operations, signaling continued ambition to build its European trading and investment capabilities. The hire of a senior macro specialist suggests the firm is prioritizing macro-focused investment talent in its growth initiatives.
For JB Drax, the departure continues a pattern of senior personnel losses to larger hedge funds and rival brokerages. The firm has previously faced departures of senior traders to competitors, including high-profile litigation in 2024 when JB Drax sued top currency salesman Amedeo Ferri-Ricchi over his move to Marex, where he serves as global head of structured FX and rates. These successive losses indicate competitive pressure on the broker's ability to retain senior macro and derivatives talent against better-capitalized hedge fund employers offering potentially superior compensation and career advancement opportunities.
The move reflects ExodusPoint's strategic expansion of its UK presence. As a multi-strategy hedge fund based in the United States, ExodusPoint has been actively bolstering its London operations, signaling continued ambition to build its European trading and investment capabilities. The hire of a senior macro specialist suggests the firm is prioritizing macro-focused investment talent in its growth initiatives.
For JB Drax, the departure continues a pattern of senior personnel losses to larger hedge funds and rival brokerages. The firm has previously faced departures of senior traders to competitors, including high-profile litigation in 2024 when JB Drax sued top currency salesman Amedeo Ferri-Ricchi over his move to Marex, where he serves as global head of structured FX and rates. These successive losses indicate competitive pressure on the broker's ability to retain senior macro and derivatives talent against better-capitalized hedge fund employers offering potentially superior compensation and career advancement opportunities.
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