Despite making a loss of $21m in 2023, after seeing a profit of $77m in the previous year, hedge fund Point72 Asset Management's London subsidiary Point72 UK Limited, has upped its headcount by 30%, according to a report by eFinancial Careers citing the company's latest financial statements.
Point72 UK added 48 employees over the past year, increasing its workforce from 196 to 254 and upping its overall wage bill, although average pay per employee dropped from $819,000 in 2022 to $696,000 in 2023.
The decrease in pay per head likely reflects a reduction in bonuses, as the firm's financial performance took a hit. In 2022, Point72's London arm generated $441m in revenue but just $299m in 2023.
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