Point72 Eyes Further Singapore Hires After 9 Recruits in 2016

Steven A. Cohen’s Point72 Asset Management plans further hires in Singapore after recruiting nine people in the city-state this year, as it expands in a region where rivals have pulled back.

This year’s additions helped boost Point72’s Singapore employees to 27, from 14 in March 2015, Chris Coward, chief of the office and head of risk for the firm’s international business, said on Monday. The Stamford, Connecticut-based family office, which oversees $11 billion, employs fund managers, analysts, quantitative developers and risk researchers in Singapore, he added on the sidelines of a ceremony to mark the relocation to a new office that can house 60 employees, double the previous capacity.

"There is a diversity of talent here, but we’re particularly excited about the analyst and quantitative developer talent that we have already tapped into here over a number of years," Coward said.

Point72 this year went on its biggest hiring spree in Asia as rivals such as Tudor Investment Corp., TPG-Axon Capital Management and Hutchin Hill Capital are closing offices and cutting jobs in the region. The $2.9 trillion global industry is grappling with investor discontent over lackluster performances and high fees, forcing some firms to streamline businesses and refocus on their main markets.

Link: Point72 Eyes Further Singapore Hires After 9 Recruits in 2016