Key Facts
- ✓ James Malick was the chief strategy officer at Point72.
- ✓ Malick joined the firm in 2023 from Millennium.
- ✓ Point72 manages $41.5 billion in assets.
- ✓ Malick previously worked at Boston Consulting Group.
- ✓ Point72 launched a private credit business and an AI fund called Turion.
Quick Summary
James Malick has departed from Point72, the hedge fund managed by Steve Cohen. Malick served as the firm's chief strategy officer and was a member of the senior leadership team. He joined the $41.5 billion firm in 2023, arriving from Millennium, which is run by Izzy Englander.
His exit coincides with Point72's aggressive diversification into new business lines. The firm has launched a private credit business and a fund focused on artificial intelligence. Malick's background includes a tenure at Boston Consulting Group before entering the hedge fund industry. He also advised the New York Mets, a team owned by Cohen, but will no longer perform that role.
Departure of a Strategy Chief
James Malick is no longer with Point72. The chief strategy officer departed the asset manager this week. Malick had been with the firm since 2023, having joined from Millennium. Millennium, led by Izzy Englander, recently lost another executive focused on strategy, Alexander Campbell.
Malick was a key figure in the firm's management structure. A person close to the firm stated that Malick was a member of the senior leadership team. His responsibilities included reviewing new business opportunities and leading strategic initiatives. Before joining the hedge fund world, both Malick and Campbell worked at Boston Consulting Group. This highlights a trend of hedge funds tapping talent from consultancies for management roles.
Point72's Business Expansion
Point72 has been actively diversifying its investment strategies. The firm, which manages $41.5 billion, has moved into several new areas recently. These moves are part of a broader effort to expand the firm's footprint in the financial markets.
The firm's new initiatives include:
- A private credit business
- A fund dedicated to investing in the artificial intelligence trend, known as Turion
- An additional equities vertical called Valist, designed to improve access to corporate C-suites
Steve Cohen has also signaled further expansion. He told the firm's backers that commodities may be the next area of growth for Point72.
Corporate Strategy in Hedge Funds
Corporate strategy roles are becoming more prominent in the $5 trillion hedge fund industry. While still not common, these positions are increasingly vital as firms become more institutional. Expansive multistrategy managers now dominate the space.
To fill these non-investing management ranks, firms are tapping talent from consultancies and banks. Point72 employs more than 3,000 people globally. An example of this hiring strategy is the recruitment of Gavin O'Connor as chief operating officer. O'Connor came from Goldman Sachs, where he worked for over two decades.
