Point72 is building out its London operation. The hedge fund, which sprung out of Steve Cohen’s family office, is understood to have hired Aardash Malde, a veteran trader from Tudor Capital in Europe.
Point72 didn’t respond to a request to comment on Malde’s appointment, but the FCA Register shows that Malde left Tudor after seven years on March 1st. Before Tudor, Malde spent at least six years at Goldman Sachs. Bloomberg reported that he was leaving Tudor in December last year. Malde and Andrew Bound were co-chief investment officers of the Tudor Discretionary Macro Fund, which was closed on January 1st after losing money in 2017.
Point72 has been hiring for its London office since 2016 and has already amassed more than 60 people – exceeding its target of 50 by the end of 2018.
Further recruits are expected now that Point72 has transmuted into more than just the family office of Steve Cohen. – Cohen’s other enterprise, Stamford Harbor Capital, which is open to outside money, was incorporated into Point72 on January 1st 2018. Financial News subsequently reported that the firm has leased an additional 6,000 square feet of office space in London ahead of its expected expansion.
Malde’s expected arrival at Point72 comes amidst a flurry of hiring activity at macro hedge funds, which are expected to have a much better year than last. Point72 already hired a junior rates trader from Morgan Stanley. Meanwhile, Citadel is building a 20 person macro team under Colin Lancaster and recruited Antonio Fortes, a former senior portfolio manager at Millennium Management in London in the past few weeks.
Macro funds’ resurgence is also encouraging traders in banks to consider their hedge fund options. As we reported, Simon Kingsbury, Goldman Sachs’ global head of short macro trading, left the bank earlier this week. Kingsbury is expected to turn up at a hedge fund soon.
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