Steve Barbo is leaving his position as Treasurer at ExodusPoint, the $12bn hedge fund firm founded by Michael Gelband and Hyung Lee, having been with the business since before its debut as the largest ever hedge fund launch in 2018, according to a report by Business Insider.

The report cites an unnamed person close to the firm as confining Barb's departure, with his role set to be taken on by the firm's CFO Erik Addington.

Barbo was one of a number of Millennium Management employees who followed Gelband and Lee to ExodusPoint when they set up the firm in 2017, promoting Millennium to launch an arbitration case against the pair to prevent the poaching of more staff.

According to his LinkedIn profile, he started his career as an Analyst at Solomon Brothers in the early 1990s and also worked in treasury roles at Archeus Capital, a hedge fund started by former Salomon Brothers bond traders, as well as Merrill Lynch's since-shuttered WCG hedge fund, before joining Millennium.

Meanwhile, Addington was the CFO and Treasurer of Nomura before joining Exodus in 2018, having also worked at Lehman Brothers, where Gelband worked prior to joining Millennium.