• Steven A. Cohen's wealth fund leased space in St. James's
  • Jonathan Jones to be responsible for `talent' management

Point72 Asset Management, the firm that oversees billionaire Steven A. Cohen’s wealth, is seeking more than 40 traders and analysts as it expands its London office.

Point72, which manages $11 billion, will staff the office with 50 to 70 people “about 80 percent investment professionals, the rest support staff,” the company’s President Doug Haynes said at a briefing Tuesday. The firm hired former BlackRock Inc. executive Jonathan Jones as head of recruitment and is seeking a new chief for London as it returns to the U.K. after two years.

“We believe there is a talent opportunity in Europe,” Haynes said. “The equities market has a lot of opportunity."

Point72 agreed to lease an office space in London’s upscale St. James’s district last year, according to an internal memo seen by Bloomberg. It hired former Balyasny Asset Management money manager Stanislas de Caumont and Israa Al Bayaa, who earlier worked at Moore Capital Management in London, people with knowledge of the matter said in October.

Three years after facing a potential lifetime ban on managing money for clients, Cohen got the green light from the Securities and Exchange Commission this month to get back into the business as early as 2018. The deal settled allegations that Cohen failed to supervise a convicted insider-trader at SAC Capital Advisors.

Research Unit

As part of an effort to rebrand itself, Cohen’s firm has added a big-data research unit, a multistrategy fund and hired at least 100 investment professionals.

Haynes said Point72, which currently employs “six or seven” people in London may “not necessarily” become a hedge fund.  “There is no guarantee we will be readmiited by the SEC in 2018," he said.

Jones previously recruited for BlackRock and Goldman Sachs Group Inc. and will be responsible for hiring for Point72’s “investment talent management and analyst development programs,” the Stamford, Connecticut-based firm said.

(Updates with research unit in sixth paragraph.)
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