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Point72 to grow Japan workforce to about 100 employees
The firm, which manages $58.5 billion as of July, plans to increase Japan capital allocation and add macro and quantitative specialists tied to moves in Japanese bonds, currencies and equities.
Point72 Asset Management plans to roughly double the size of its Japan operation to about 100 employees, while increasing the amount of capital it deploys in the country, Hedgeweek reports. The expansion is aimed at taking advantage of corporate governance reforms and changing market dynamics in Japan.
According to Hedgeweek, the firm founded by billionaire Steve Cohen is targeting additional hires across fundamental equity research, macro strategies, and quantitative strategies. Shinji Ogawa, head of Point72’s Japan business, said there are still many sectors the firm does not cover in Japanese equities, indicating scope to expand its investment activity.
Point72 managed $58.5 billion as of July and has operated in Japan since opening its Tokyo office in 2011, the outlet added. The firm is also investing more in training and recruitment, including hiring an internal trainer and a recruiter for its graduate development program.
Hedgeweek also noted that the expansion goes beyond equities, with Point72 seeking specialists in macro and quantitative analysis to address opportunities it expects from movements in Japanese bonds, currencies, and equities.