The Point72 hedge fund has parted company with the head of its quant platform, Tristan Faber, who stepped down to take a similar role at a much less successful investment management firm Jain Global, an article on the eFinancialCareers website said.
Faber, a former head of investor products quantitative strategies at Credit Suisse, has spent the past two years as head of Point 72’s quant platform, the article said. Jain’s founder, Bobby Jain, was one of his colleagues at Credit Suisse and left the Swiss bank before Faber did.
Point72, which is headquartered in Stamford, Connecticut, generated 19 per cent in returns for 2024 while Jain’s performance for the year up to November 2024 was up just 0.2 per cent though the firm had $5.3bn in assets under management at its launch on July 1, the article cited The Wall Street Journal and Business Insider as saying.
Jain’s complete statistics for 2024 are not yet available.
Faber is based in the London branch of New York City-headquartered Jain.