"Point72 Asset Management is forming a new executive committee to oversee the hedge fund's increasingly sprawling empire, led by billionaire founder Steve Cohen. The committee includes four other current executives."
"The hedge fund hit $50 billion in assets under management this month, a significant increase from $11 billion in 2018 when it relaunched, reflecting its rapid growth."
"Cohen emphasized the need for a management structure that matches the firm's current scale and growth ambitions as it continues to pursue existing and new strategies."
Point72 Asset Management is establishing a new executive committee to manage its growth, led by founder Steve Cohen. The firm has grown from $11 billion in assets in 2018 to $50 billion in April. The committee includes four other executives and aims to align the management structure with the firm's expansion. The headcount has increased from 1,200 to over 3,300 during this period. Cohen will continue to oversee daily operations and risk management despite no longer trading personally.
Read at www.businessinsider.com
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