Point72 Asset Management, the family office managing the wealth of Steven A. Cohen, has opened a new office in the Mayfair neighborhood of central London.
The move comes three years after Cohen’s former firm, SAC Capital Advisors, has shut its office in London amid an insider trading investigation by authorities in the US.
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Point72 president, Doug Haynes said the firm will beef up its newly opened London office by hiring as many as 15 staff by the end of 2016.
Additionally, the firm is planning to recruit up to 70 people for London office, which currently has about a half-dozen investment professionals on staff.
In 2013, SAC Capital pleaded guilty to insider trading charges and paid a $1.8bn penalty to resolve the issue.
Haynes said: "That’s a long time from now to predict whether we’ll make that determination," he said. "A lot can happen between now and then."
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By GlobalDataBased in Stamford, Connecticut, Point72 manages about $11bn and has about 950 employees.
