Saturday, April 20, 2024

Balyasny hires Point72’s Fang to lead quant business

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Francine Fang has joined Balyasny Asset Management from Point72 Asset Management as global head of systematic strategies.

Dmitry Balyasny has hired from his rival Power List firm and given Fang responsibility for growing its quant business, working with investment teams to help them scale.

Previously deputy head of investments at Cubist Systematic Strategies, a unit of multi-manager giant Point72, where she spent eight years, she has expertise in quantitative trading strategies, risk and infrastructure.

She was actively involved in all aspects of the quant business, including supervising quantitative portfolio managers, hiring teams, and managing risk and capital allocation, according to a statement from the Chicago-based firm.

Balyasny runs about $20bn and is one of nine multi-manager specialists with more than $10bn under management.