STAMFORD, Conn. - Thursday, September 29th 2016 [ME NewsWire](BUSINESS WIRE)-- Point72 Asset Management (Point72), the family office managing the assets of investor and philanthropist Steve Cohen, is expanding its groundbreaking Point72 Academy Program to recruit students internationally from Asia and Europe and expects to add up to 15 students to its full-time Financial Analyst and Summer Analyst programs in 2017.
The Academy is Point72’s one-of-a-kind initiative to recruit and train new college graduates as long/short (L/S) equities investment professionals on an accelerated schedule. During the 12 month Financial Analyst program, Academy members spend more than 2,500 hours learning to create and refine financial models, conduct primary research, prepare stock recommendations and effectively convey their ideas.
“The Point72 Academy has transformed the way we hire and prepare young investor talent,” said Jaimi Goodfriend, Academy Director. “We were blown away and, frankly, humbled by the talent and success of our first Academy class. We have successfully added each graduate from the Class of 2015 to our investment platform. I am excited to work with our 2016 class and really looking forward to working with our international students when they arrive in 2017.”
“The Firm’s decision to further invest in the Academy Program by recruiting students internationally supports our aggressive growth strategy in Asia and Europe and helps us to capture multicultural talent that is critical to adding diversity of thought,” said Marc Desmidt, Chief Executive Officer of Point72’s international business. Under the oversight of Desmidt, Point72 has doubled the size of its workforce in London and recently hired 31 people for its Hong Kong, Singapore and Tokyo offices in the first eight months of 2016.
“We can teach young talent Point72’s way of investing in the US and then provide them the opportunity to work directly with a portfolio manager in their local region,” added Desmidt.
The first Academy class to complete the program, the Class of 2015, graduated this past summer. The second Academy class, the Class of 2016, began its course of study a month ago and the expanded international seats will be part of the third class, the Class of 2017.
The Class of 2016 has 12 full-time participants, including two women, up from no women in the first class. It includes graduates with a diverse set of majors in Music, Applied Mathematics, International Studies, Neuroscience, Environmental Science, Engineering, Business, and others.
The Academy also conducts a Summer Analyst Program, a 10-week preview of the Financial Analyst program available to students before they begin their final year of undergraduate study. More than 70% of the participants in the 2016 Summer Analyst program received offers to return full-time and 100% of these Summer Analysts accepted.
The Summer Analyst Program is just one part of Point72’s larger recruitment arc that starts with its annual Global Case Competition and the Sophomore Summit, a day-long learning event for remarkable second-year students.
Point72 has already received more than 4,600 applications for the 2017 Academy Program and applications will remain open through October. Applications received thus far for the 2017 Academy Program are up from 400 applications for the 2015 class and more than 3,200 applications in total for the 2016 class. A quarter of the 2017 applications are from international students.
Once the Class of 2017 Academy members complete their eight months of intensive training in the US, they will work directly with Point72 L/S investment professionals around the globe. This will be the first class that will rotate among Point72’s offices in London, Hong Kong, Singapore, Tokyo, New York and Stamford, Connecticut.
After the rotational period, they will be assigned to work full-time with L/S investment teams in their local region. They are paid during the training period and receive visa sponsorship.
The deadline for applications for Asian and European students is October 16, 2016 and October 23, 2016, respectively. To find out more about Point72 or to apply online, please visit: www.point72.com/academy.
About Point72 Asset Management
Point72 Asset Management is a family office managing the assets of its founder, Steven A. Cohen, and eligible employees. Point72 primarily invests in discretionary long/short equities and makes significant quantitative and macro investments. The Firm's long/short investment divisions are Point72 Asset Management and EverPoint Asset Management. Cubist Systematic Strategies is its quantitative business. The Firm is headquartered in Stamford, Connecticut, and maintains offices in New York, London, Hong Kong, Tokyo, and Singapore. Point72 Asset Management, L.P. is a family office and does not seek, solicit or accept any external investments. www.Point72.com.
Contacts
Media:
Point72 Asset Management
Jessica Schaefer, 203-890-3867
Jessica.Schaefer@Point72.com
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