Stamford, Connecticut-headquartered Point72 Asset Management, a family office managing the assets of U.S. hedge fund SAC Capital Advisors’ founder Steven A. Cohen (pictured), has named Marc Desmidt as chief executive officer for its Asia Pacific region, according to a company announcement.
"Marc has spent a quarter century investing, managing and leading in Asia in two different markets," says Point72 president, Doug Haynes. "That gives him the acumen we need as we look to deepen our Asian relationships and reflects the importance we place on our Asia business."
In this newly created role, Desmidt will oversee the operations of the firm’s offices in Hong Kong, Japan, and Singapore, and will drive Point72’s strategic objectives throughout the region.
Seiji Onoe, based in Tokyo, will continue to lead the portfolio managers that focus on the Japan sector.
Howard Man, based in Hong Kong, will continue to lead all other investment teams in Asia, both of whom will report to Desmidt.
Desmidt joins Point72 from BlackRock, where he served in Hong Kong as head of strategic oroduct management in Asia-Pacific, responsible for the direction and execution of BlackRock’s product suite across all asset classes.
He previously worked in several senior roles at BlackRock, most recently as its head of alpha strategies, managing more than 100 employees across multiple teams and countries.
In that role, Desmidt was the lead manager on the Japan Value Fund and the Blackrock Global Fund, growing Asian fundamental equity assets-under-management from US$2 billion to US$8 billion.
Desmidt earned his B.A. from the University of Cape Town and his M.S. from the University of Oxford.
Point72 Asset Management primarily invests in discretionary long/short equities and makes significant quantitative and macro investments.
The firm, with around 1,000 employees, maintains affiliated offices in New York, London, Hong Kong, Tokyo, and Singapore.