Point72 Quant Consolidation Spurs Granade’s Departure
- Firm will house centralized quant book Fusion within Cubist
- Move comes after Cohen appointed Denis Dancanet to run Cubist
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Steven Cohen is consolidating the systematic operations of his $19 billion hedge fund firm and one of its most prominent executives will exit after five years.
Cohen is moving his Fusion quantitative portfolio into Point72 Asset Management’s computer trading business, Cubist Systematic Strategies, according to a memo to employees Wednesday. Matthew Granade, who oversaw Fusion, will leave along with his deputy.