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Komfie Manalo, Opalesque Asia: Steven Cohen's $11bn family office Point72 Asset Management is looking at "enormous" investment opportunities in Japan that it decided to double its staff in Tokyo to over 60 in the next couple of years, reported Bloomberg.
Point72's international business Chief Executive Officer Marc Desmidt said in Tokyo, "When we look at Japan we see an enormous opportunity in the alpha space. It's incumbent upon us to ensure that we have the right people, the best positioned, the best trained to seek those alpha opportunities out."
Desmidt said that the company is aiming to hire enough talent to match the "alpha" opportunities in Japan. Over the past three-and-a-half years, Point72 has raised its Japan staff to 30 from the previous 10.
However, the company is not expected to have an easy time looking for talents as hedge funds and other financial firms are finding it difficult to attract qualified workers in Japan because of almost 20 years of slow market returns.
Since 2015, Point72 has embarked on an ambitious training platform and is offering a 10-week internships and a 10-month academy program as part of its recruitment process for analysts. This year, the two programs have attracted to 8,200 from about 400 in 2015.
"In Japan, the reality has been that financial services and the investment manage...................... To view our full article Click here
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