Point72 Asset Management has hired a star credit trader from JPMorgan Chase as a new portfolio manager.
Leon Hagouel, an executive director in JPMorgan's fixed-income trading division, has resigned to join the $22 billion hedge fund run by billionaire Steve Cohen, sources familiar with the matter told Insider.
He's set to start at Point72 in October as a macro portfolio manager, the sources said.
Representatives for Point72 and JPMorgan declined to comment.
Hagouel joined JPMorgan in 2006, according to FINRA records, after completing his master's in financial engineering at the University of California at Berkeley.
Hagouel has been a top performer at JPMorgan, where specialized in trading credit-default swaps, junk bonds, and distressed credit, sources told Insider.
Credit was a leading revenue producer in a record year for sell-side trading desks in 2020, and a war for top talent has erupted in the aftermath. While much of the hiring has been between banks, buy-side investors have lured away some marquee performers as well.
John Cortese, previously US cohead of credit at Barclays and one of the Street's top junk-bond traders, left to run global credit trading at Apollo after Zachariah Barratt decamped for Citadel; Earl Hunt, a Goldman Sachs partner who specialized in leveraged finance sales, also joined Apollo.
Earlier this year, star index credit trader Shawn Joshi left Morgan Stanley for hedge fund Compass Rose Asset Management.
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