Cohen's Point72 Hires, Promotes in Asia as Fund Managers Depart

  • Point72 hired two fund managers and promoted two analysts
  • Moves came after fund managers and analysts left recently

Billionaire Steven A. Cohen’s Point72 Asset Management hired fund managers and promoted analysts for its Asia offices as employees have departed the firm.

The $11 billion family office hired two fund managers for its operations in Hong Kong, and promoted two analysts based in the city to roles as portfolio managers, said Jonathan Gasthalter, a spokesman for Point72 at Sard Verbinnen & Co. It elevated another analyst to junior fund manager and recruited more analysts, he said, without disclosing their names.

The Stamford, Connecticut-based firm is replenishing its talent pool as it loses people to rivals and regional startups. Recent months’ departures include William Leung, a Hong Kong-based fund manager, and Singapore-based analysts Joo Han Lua and Liu Xuan. Irene Liaw, another Hong Kong-based fund manager, left last year. Carl Vine, Andrew Bazarian and Ken Xu are among regional Point72 alumni who founded new hedge funds in recent years.

Point72 reached a deal with the U.S. Securities and Exchange Commission in January which could allow the firm to manage money for clients as early as 2018. The green light came three years after Cohen faced a potential lifetime ban on managing outside money for a failure to supervise a convicted insider-trader at Point72’s predecessor firm SAC Capital Advisors.

The recent departures reflected "normal ebb and flow in the industry," Gasthalter said.

The firm in January appointed Marc Desmidt, formerly of BlackRock Inc., as Asia-Pacific chief executive officer, a newly created role that puts him in charge of operations of its Hong Kong, Japan and Singapore offices. It will deploy more people from its Stamford office to Hong Kong and Singapore, Gasthalter added.

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