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Komfie Manalo, Opalesque Asia:

Less than 16 months after his former hedge fund firm SAC Capital Advisors pleaded guilty to insider trading charges, billionaire Steven A. Cohen is recruiting college graduates to join his "army of hundreds of investment professionals," reported Gnom.es.

Cohen’s new $10bn firm, Point72 Asset Management, is reported to be shifting its focus from hiring seasoned investors to bringing in fresh talents that it can train in-house. Point72 currently employs 850 staff, including 350 investment professionals. The company has set up a new web site, Point72.com to boost its recruitment efforts.

Point72 spokesman Mark Herr reiterated that the company remains as a family office and is not looking for outside investors. Cohen was prohibited from managing outside money but invests only using his personal wealth.

Herr was quoted as saying, "We’ve launched a campus recruiting program for undergraduates unique among hedge funds."

The new recruits are expected to replace executives who have left the company to start their own hedge funds, Herr added.

Speculations emerged last week that Cohen might be allowed to manage outside money again in light or a recent appeals court decision that reversed the in......................

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