Steven Cohen's Point72 Names BlackRock's Desmidt as Asia Chiefby
Marc Desmidt worked at BlackRock in various roles since 2006
He will lead Point72's Singapore, Hong Kong and Japan offices
Point72 Asset Management, the $11 billion family office of Steven A. Cohen, has hired Marc Desmidt from BlackRock Inc. as chief executive of its Asia unit.
Desmidt, who will based in Singapore, will also oversee the firm’s operations in Hong Kong and Japan, according to a statement from Point72 today. Howard Man, who oversees money managers in Hong Kong, and Seiji Onoe, who leads Point72 managers based in Japan, will both report to Desmidt.
Most recently head of strategic product management for BlackRock’s Asia-Pacific region, Desmidt had been at BlackRock in various roles since 2006, when the firm purchased Merrill Lynch Investment Managers. He had worked at the Merrill Lynch unit since 1991.
Desmidt will start at Point72, the successor firm to Cohen’s SAC Capital Advisors, on Jan. 18, according to firm spokesman Mark Herr.