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Steve Cohen’s Point72 Names New Head Of US Trading

Courtesy of ZeroHedge. View original post here.

Having reopened Point72 as a traditional hedge fund at the start of the year after the expiration of his insider trading penalty (and already swimming in well over $3 billion in outside capital) hedge fund "information arbitrage" legend Steve Cohen has been busy ramping up his ranks, recently adding former Goldman and Morgan Stanley traders, not long after the October departure of the hedge fund's former top trader, Phil Villhauer, who had been with SAC since 2002.

To be sure, Villhauer's departure left big shoes to fill, however Cohen appears to have done just that, when this morning Point72 announced the fund has named Dan Lota its new Head of U.S. Trading. According to the release, "Lota was named after the Firm conducted an extensive candidate search" and ended up hiring internally.

“We have concluded that the best candidate already sits within the Firm,” said the co-heads of Point72’s Central Liquidity Group, Drs. Hamid Biglari and Massoud Heidari. The Central Liquidity Group is Point72’s global trading organization.

“During his six-month tenure as Acting Head of U.S. Trading, Dan has done a superb job leading the U.S. traders,” said Dr. Biglari.

"In his 15 years at Point72, Dan has built strong relationships with Steve, Portfolio Managers, within the trading team, and has developed a deep institutional knowledge of the Firm,” said Dr. Heidari.

Having kept a very low public profile, it is not immediately clear what Lota's product/strategy focus will be at what many believe will soon re-emerge as one of the most important hedge funds in the market.


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