Jaimi Goodfriend Joins Cohen's Point72 Training Program
Jaimi Goodfriend, a hedge fund industry veteran, has been appointed by Steve Cohen's $11 billion firm Point72 Asset Management to head a new training program designed to pass the billionaire investor's famous stock picking skills to a new generation as he rebuilds after an insider trading scandal.
The
academy has accepted 15 undergraduates out of 1,300 applicants into an
eight-week summer internship. It picked 15 college graduates from
several hundred applicants for a longer program that will teach
financial modeling, stock research, securities laws, ethics and
compliance. The paid summer internship begins in June while the longer
Academy class program commences in August.
"We
compete with the major banks, private equity firms and Silicon Valley
for the same people," said Point72 President Douglas Hayes. "The Academy
will help us get first crack at the next generation of investor talent
before they might go elsewhere."
Cohen
is not expected to teach any classes. Still, he will have contact with
trainees from his seat at the center of the trading floor, a firm
spokesman said.
The
first trainees, from schools including Yale, Columbia, and Cohen's alma
mater the University of Pennsylvania, will be mentored by senior
analysts and portfolio managers and are likely to be promoted into
Point72's fulltime ranks after completing the program.
Source: Financial Times
