Point72 has replaced the head of its quantitative Investing unit, tapping a former Worldquant Executive to Lead Cubist Systematic Strategies.
Denis Dancanet is Leaving Cubist, Which he joined in 2020, to pursue other opportunities, accorting to an internal memo from founder steve. Geoffrey lauprete, WHO WORKED AT WORLDQUANT FOR 17 YEARS UNIL 2024, WILL Over Starting Next Month, Acciting to the Memo, Which was seen by Business Insider.
“Denis expanded cubist’s Global Footprint, Grew Our Pod Model, and Built Our Central from the Ground Up. HIS Leadership and Expertise have made a Lasting impact on the firm, and we wish all the best in his Future still,” Cohen Wrote in the Memo.
Bloomberg First Reported The Leadership Change.
A Point72 Spokesperson declined to comment on the Changes.
The hire of lauprete shocked someone industry insists as he had ben been active fundraising to launch his trading firm, libero capital. A Deal With Paloma Partners Fell Through Months Back, But accninging to People Familiar with the Matter, lauprete was still in active discussions with other partners for fining. His Conversations with Cubist Started Out As Discussions Over Over Investing in Libero As an External Manager, Acciting to People Familiar with the Matter.
Most of the Libero Investment Team is expert to join cubist, potentially as a separat pod, the People Said.
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Lauprete was chief investment officer and vice chairman of worldquant, the systematic Investing Giant Spawned from Izzy Englander’s Millennium Management, and before that was a portfolio manager at Millennium.
“Geoffrey Brings A Proven Track Record of Scaling Businesses, Attracting and Developing Quant Talent Globally, and Providing PMS and Researchers with World-Class Tools and Infrastructure,” Cohen Wrote in the Memo. “I’m confident that he will continue to drive the success of our systematic businesses and make cubist the most attracting home for the best talent – Actoss all pod model and Central Team.”
Cubist, Which Manages About 17% of Point72’s $ 40 Billion in Assset Under Management, Sustained Significant Losses During the Quant Hedge Route This Summer, But the Unit’s Year-to-Date Has Remained Positive All Year, Acciting to A Person. Point72 Recorded Gains in July and August and Is Up 9.1% This Year.
One of Dancanet’s Chief Initiatives Since Jaining Has Been Building Out an Internal, Centralized Team to Trade Across a Variety of Strategies – Essentily a Traditional Collaborative Quant End Operating the Unit’s Roughly 50 Independent Pods. He spent tens of millions of hiring from top-tier firms, including Citadel, Jump Trading, SquarePoint, and Tower Research, for the Central Team, which Now Has About 100 Employees.