Key Takeaways
- • Kirk McKeown, head of proprietary research at Point72, is departing after eight years to launch a data and research startup focused on expanding research and insights to other markets globally.
- • McKeown is the second senior data executive to exit Point72 in two months, following Matthew Granade's departure in early December 2020 from his role as head of market intelligence and Fusion quant portfolio.
- • Matt Dowd, who joined Point72 in 2016 after a decade with the FBI and most recently served as proprietary research operating officer, has been appointed to succeed McKeown as head of market intelligence.
- • Point72 ended 2020 managing $19 billion in assets and raised $1.5 billion at the end of January 2021, though the firm experienced a 10% loss during the short-selling volatility that impacted Melvin Capital.
- • McKeown's departure reflects a broader organizational restructuring at Point72's market-intelligence unit and data operations, with predecessor Granade's exit coinciding with the folding of the Fusion quant portfolio into the firm's Cubist systematic-trading operation.
Summary
Kirk McKeown is exiting Steve Cohen's Point72 Asset Management after eight years to launch his own data and research company, marking the second departure of a senior data executive from the $19 billion hedge fund in as many months. According to an internal memo seen by Business Insider, McKeown, who led the firm's proprietary research division and created its Canvas Fundamental Research Group, had been contemplating his departure since the end of 2020 and is now pursuing entrepreneurial interests centered on bringing research capabilities to other regions globally.
Steve Cohen, Point72's founder, acknowledged the transition in measured terms, stating: "Kirk plans to leave the industry to pursue his entrepreneurial interests focused on bringing research and insights to other parts of the world. He and I began discussing his next steps at the end of last year, and I look forward to seeing what Kirk does in his new endeavors." Matt Dowd, who joined Point72 in 2016 after ten years at the FBI where he served as chief of staff in market intelligence and most recently as proprietary research operating officer, has been appointed to assume McKeown's responsibilities as head of market intelligence.
McKeown's departure represents part of a broader organizational shake-up in Point72's data and market-intelligence operations. In early December 2020, Matthew Granade exited his role as head of market intelligence and leader of the firm's Fusion quant portfolio as that unit was folded into Cubist, the firm's systematic-trading operation. These consecutive departures signal ongoing structural realignment within the hedge fund's research infrastructure during a period of significant market volatility.
Point72 ended 2020 with $19 billion in assets under management and secured $1.5 billion in new capital at the end of January 2021, despite experiencing a 10% decline during the short-selling turbulence that created substantial losses elsewhere in the hedge fund industry. Cohen personally invested $750 million into Melvin Capital alongside Ken Griffin, who contributed $2 billion, underscoring Point72's strong positioning and Cohen's confidence in the broader market environment despite recent volatility.
Steve Cohen, Point72's founder, acknowledged the transition in measured terms, stating: "Kirk plans to leave the industry to pursue his entrepreneurial interests focused on bringing research and insights to other parts of the world. He and I began discussing his next steps at the end of last year, and I look forward to seeing what Kirk does in his new endeavors." Matt Dowd, who joined Point72 in 2016 after ten years at the FBI where he served as chief of staff in market intelligence and most recently as proprietary research operating officer, has been appointed to assume McKeown's responsibilities as head of market intelligence.
McKeown's departure represents part of a broader organizational shake-up in Point72's data and market-intelligence operations. In early December 2020, Matthew Granade exited his role as head of market intelligence and leader of the firm's Fusion quant portfolio as that unit was folded into Cubist, the firm's systematic-trading operation. These consecutive departures signal ongoing structural realignment within the hedge fund's research infrastructure during a period of significant market volatility.
Point72 ended 2020 with $19 billion in assets under management and secured $1.5 billion in new capital at the end of January 2021, despite experiencing a 10% decline during the short-selling turbulence that created substantial losses elsewhere in the hedge fund industry. Cohen personally invested $750 million into Melvin Capital alongside Ken Griffin, who contributed $2 billion, underscoring Point72's strong positioning and Cohen's confidence in the broader market environment despite recent volatility.
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