Steven Cohen's firm on track for expansion despite Brexit


Point72 Asset Management, the firm that oversees billionaire Steven A. Cohen’s wealth, reassured employees that its planned expansion to London remained on track, despite Britain’s decision to leave the European Union.

“When we reopened our London office in January of this year, we made a strategic commitment to building our presence in the region,” Point72’s Asia-Pacific CEO Marc Desmidt and London office head Will Tovey said Friday in a letter obtained by Bloomberg and confirmed by the company.

“Following the U.K. referendum result, we reemphasize our commitment to growing our London office as part of our international growth strategy,” they said.

Bloomberg News reports that global markets buckled and about $3tril was erased from equity values on Friday following the U.K.’s referendum on EU membership, which ended with a majority backing the Leave campaign to leave the bloc and the resignation of Prime Minister David Cameron.

To access the complete Bloomberg News article hit the link below:

Cohen’s Point72 Says London Expansion on Track Despite Brexit

U.K. Chaos Infects Markets With Pound Seen Extending Record Loss

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