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75% Of Point72's Portfolio Managers Were Drafted Right Out Of High School, Worked Their Way Up Through Hedge Fund's Minor League System

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Last week, after spending a mere 4 months with the firm, an executive named Scott Braunstein decided his time at Point72 Asset Management (AKA SAC Capital 2.0) had run its course. Somehow, that news and a request for comment by Bloomberg resulted in this statement:

“Point72 remains focused on developing its own talent,” Jonathan Gasthalter, a spokesman for Stamford, Connecticut-based Point72 said. “Roughly three fourths of our portfolio managers are now homegrown and in the past year, alone, eight analysts have been promoted to portfolio manager, with others in the pipeline.”

So, uh, if you're looking to join Team Steve but already have a number of years at another organization under your belt, just know that it's probably not going to work out. They're not interested in high-priced free agents.

Point72’s Braunstein Said to Leave Cohen’s Family Office [Bloomberg]