Steve Cohen’s inexorable return to the hedge-fund business suffered its first hiccup last month when Her Majesty’s government made clear that return would not be welcome on her shores, in spite of Cohen’s unswerving loyalty to the Crown and the fact that, you know, hedge-fund jobs may be the only ones left in England after the country builds that wall down the middle of the English Channel. Does this have the Big Guy rethinking the planned parades and celebrations set for 12:01 a.m. on Jan. 1? Does it hell. You think Steve Cohen needs England? Think again: He’ll just accelerate his plans to conquer the whole of Asia, which, if you hadn’t heard, is bigger than little Olde Blighty. Why, there’s another island nation with elaborate drinking and tea cultures and an archaic royal family, that’s got almost twice the GDP of the U.K., and it’s starting to come out of a 25-year-long economic nightmare rather than sinking into one. Oh yea, and it, at least for now, isn’t telling Steve Cohen he’s not welcome.
Point72 Asset Management plans to double its Japan staff to more than 60 people in the next few years to take advantage of what it says are “enormous” investment opportunities.
Steve Cohen’s $11 billion family office wants enough talent to match “alpha” opportunities in Japan, Marc Desmidt, the chief executive officer of Point72’s international business, said in an interview in Tokyo. The hedge fund has tripled its Tokyo staff to 30 in the past three-and-a-half years….
Point72 is offering 10-week internships and a 10-month academy program to recruit potential analysts…. At the first internship program in Tokyo this week, seven graduates with degrees ranging from agricultural science to biochemistry are getting a crash course in accounting, stock valuation and presentation skills. The best candidates will be selected for next year’s academy program where they will learn coding and financial modeling.