ExodusPoint Capital Management is backing former BlueCrest portfolio manager Ben Atlas with an initial allocation of more than $1bn as the multi-strategy hedge fund continues to expand its roster of senior trading teams, according to a report by Bloomberg.

The report cites unnamed people familiar with the plans as revealing that Atlas is expected to launch his new macro trading pod at ExodusPoint later this month under the name Atlas Capital.

New York-based Atlas previously worked as a senior portfolio manager at BlueCrest Capital Management, the investment firm founded by billionaire Michael Platt. He left BlueCrest last year after earlier roles at proprietary trading firm DRW Holdings and Barclays.

ExodusPoint reportedly declined to comment, while Atlas reportedly did not respond to requests for comment.