- Wall Street Week
What does Doug Haynes, president of Point72 Asset Management, look for in young people wanting to work for him?
In the second part of an interview with Skiddy von Stade of OneWire, Haynes explained what qualities he looks for when hiring college students for the Point72 Academy. The academy trains students as research analysts for the firm, and Point72 recently expanded the reach of its program to Europe and Asia.
“We like people who have demonstrated grit,” he said. “Somebody who has financed their own education, somebody who has had a roll-up-your-sleeves job of one kind or another.”
Haynes is also interested in hiring graduates with different experiences.
“We don’t want to hire all finance backgrounds, nor do we want to hire necessarily all hard-science backgrounds,” Haynes said.
Instead, Point72 looks to candidates who have “a demonstrated interest in the markets,” regardless of their background.
Such diversity, Haynes believes, will add value to his firm.
“If everybody sees things the same way, you start to create a lot of risk because all the thinking gets correlated, and when there is a problem, you don’t have the diversification of ideas and perspectives that makes you aware of it,” he said.
Point72, with headquarters in Stamford, Connecticut, was founded by Steve Cohen in 2014 and manages about $11 billion in assets. Haynes joined the firm in 2014 as managing director of human capital and later became president.
To the graduating class of 2017, Haynes said following your passion is not as important as creating opportunities to learn.
“A young person graduating from college may think that they know what they want to do for the rest of their lives – I can guarantee you it’s not true,” he said. “I strongly think you make your first decision based on your opportunities to grow personally and professionally and then have an open mind.”