Hedge Fund Point72 paid 300+ staff £650k on average in London
Steve Cohen's hedge fund Point72 had a resounding comeback last year in its London office. Profits across its two UK entities more than tripled, rising over $100m to a total of $139.9m. Pay for its London staff also rose, albeit not as meteorically.
'Point72 UK Limited' grew its headcount by 50 in 2024 to 304 staff. It paid them average 'wages and salaries' of $870.7k (£650k) per person, up from $696k in 2023. Last year's pay was higher than the $819k Point72 London staff received in 2022, another bumper year.
Pay in Point72's UK LLP, naturally, was far greater. Ths entity, which houses the partners ("members") had a profit share of $133m among an average of seven members. $97.3m was paid to one member (presumably a corporate entity), meaning the remaining six each received $5.9m on average.
Point72's UK partners include Simon Taylor, a PM that joined from Balyasny in 2020, and Peter Williams, another Balyasny alum. Another partner, Sofien Ben Ouaghram, resigned from the LLP earlier this year.
How does Point72 stack up compared to rival hedge funds in London? It pays more to staff on average than Citadel, although Citadel's partners earned almost three times as much as Point72's in 2023. Millennium, meanwhile, paid its staff $1.04m (£776k) in 2023. Point72 was seen hiring a lot of quants in its UK office last year; quant trading giant Jane Street paid slightly less than Point72 in London last year, but its partners earned $19.6m on average.
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