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Point72 Asset Management warns applicants on new recruitment scam

Internet Data Theft

How desperate are you to get a job at a hedge fund? Scammers are attempting to take advantage of the clamour to get into a buy-side job by phishing for applicants’ personal details.

In the latest example of a hedge fund recruitment scam Point72 Asset Management has just highlighted that potential applicants are being encouraged to create an AOL/AIM account by phishers posing as its recruitment team.

Phishers are using targeted advertising and claiming to be Point72’s Hiring Department, and then asking applicants to sign up for an AOL account and give up their personal details. “DO NOT RESPOND to this scam,” said Point72 in a statement.

This is the second example of scammers targeting applicants to top hedge fund jobs. Bluebay Asset Management, a hedge fund with $58bn in assets under management, said late last year that victims were being approached by scammers posing as its recruitment team saying they were suitable candidates before being asked for bank details to pay for work permits, system access and other HR admin processes.

Hedge funds received thousands of applications for open positions and hire only a very select few. Point72 received 1,500 applications for its UK graduate programme and hired just three to five candidates – or 0.2-0.3% of applicants.

Most recently, in London, it’s taken on Kim Chatall, a former associate in Morgan Stanley’s investment banking team, who joined as an analyst in its equities team and trader Romain Nioche, who was latterly working at Barclays.

“Point72 would never contact individuals via LinkedIn or otherwise from a non-Point72 email account, request confidential information, or ask a potential candidate to create an instant messaging account in connection with a job opportunity,” said the hedge fund.

If you are interested in a job at Point72, it’s best to go through its official careers page.

Contact: pclarke@efinancialcareers.com

Photo: Getty Images

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