Point72 quant platform head leaves for a young rival hedge fund

Last year was a pretty great one for Steve Cohen's hedge fund, Point72. It posted 19% returns, above the likes of Millennium and Citadel. That hasn't stopped one of its front office technology heads from departing for a hedge fund that had a testier 2024.

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Tristan Faber has joined Jain Global in London as the young hedge fund's head of platform. He spent the past two years as the head of the core quant platform for Point72's macro team. Faber also led the fund's macro user interface (UI) team, and was the product owner for intraday risk and PnL UI. 

Faber and Jain's founder, Bobby Jain, are former colleagues from their time at Credit Suisse. Faber joined as a PhD graduate quant strat in 2009, and worked his way up to head of investor products quantitative strategies before Jain left. He went on to run the bank's enterprise data and analytics quant platform. 

Jain's full performance figures for 2024 are not yet public, but it had a fairly rocky start to the year. It started trading in July, and is thought to have ended the month down 0.65%, despite raising $5.3bn for its debut. For the year through to November, Business Insider reports that Jain was up just 0.2%. If Faber wants to replicate his Point72 performance at Jain, he may have his work cut out for him.

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