Cohen’s Point72 Taps Student Talent With Expanded Academy Program
Steven Cohen’s Point72 Asset Management is adding at least 15 students from Europe and Asia to train them in long-short equities as part of its 2017 academy program. The college graduates will train on an accelerated 12-month course, spending more than 2,500 hours learning to create financial models, conduct primary research, prepare stock recommendations and effectively communicate ideas, according to a statement from Point72.
This year’s expansion of the academy program is part of the firm’s plan to tap new sources of investment talent as it seeks to boost headcount at a time when some of the biggest global hedge funds are trimming staff. Last year’s program — its second class — included 13 participants, it said.
“The firm’s decision to further invest in the Academy Program by recruiting students internationally supports our aggressive growth strategy in Asia and Europe and helps us to capture multicultural talent that is critical to adding diversity of thought,” Marc Desmidt, CEO of Point72’s international business, said in the statement. “We can teach young talent Point72’s way of investing in the U.S. and then provide them the opportunity to work directly with a portfolio manager in their local region.”
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