Point72, the hedge fund founded by Steven Cohen, has hired Olivier Arnoult from Barclays as a portfolio manager focused on systematic trading, according to a person familiar with the matter.
Arnoult’s Background and Role
Arnoult joins Point72’s quantitative investment team, where he will be responsible for developing and executing systematic trading strategies. He previously served as a managing director and head of European quantitative trading at Barclays, where he worked for over a decade.
At Barclays, Arnoult oversaw the bank’s European quantitative trading desk, which uses mathematical models and algorithms to execute trades across asset classes. His hire underscores Point72’s commitment to expanding its systematic capabilities, an area that has become increasingly important for hedge funds seeking to generate consistent returns.
Point72’s Quant Expansion
Point72 has been steadily building out its quantitative trading division, known as Point72 Quantitative Research, which now manages billions of dollars in assets. The firm has hired several senior quantitative traders from rival firms in recent years, including from firms such as Citadel and Two Sigma.
Systematic trading, which relies on computer-driven models rather than human discretion, has grown in popularity as hedge funds look to reduce reliance on star stock-pickers. Point72’s push into quant strategies is part of a broader industry trend, with firms like D.E. Shaw and Renaissance Technologies also dominating the space.
Impact on Point72’s Strategy
The addition of Arnoult is expected to bolster Point72’s ability to trade in European markets, where the firm has been expanding its presence. The move also signals that Point72 is willing to invest in talent to compete with larger quantitative hedge funds.
Point72, which manages approximately $30 billion in assets, has been diversifying its investment strategies beyond its traditional fundamental equity focus. The firm’s quantitative unit now accounts for a significant portion of its overall capital allocation, according to industry estimates.
