{"id":47902,"date":"2026-03-19T02:52:14","date_gmt":"2026-03-19T02:52:14","guid":{"rendered":"https:\/\/agooka.com\/news\/usa\/a-senior-leader-is-out-at-cubist-point72s-quant-division-after-months-of-losses\/"},"modified":"2026-03-19T02:52:14","modified_gmt":"2026-03-19T02:52:14","slug":"a-senior-leader-is-out-at-cubist-point72s-quant-division-after-months-of-losses","status":"publish","type":"post","link":"https:\/\/agooka.com\/news\/usa\/a-senior-leader-is-out-at-cubist-point72s-quant-division-after-months-of-losses\/","title":{"rendered":"A senior leader is out at Cubist, Point72&#8217;s quant division, after months of losses"},"content":{"rendered":"<figure><img decoding=\"async\" src=\"https:\/\/i.insider.com\/699c6f9f2237a6a8f0cda345?format=jpeg\" alt=\"Cohen poses wearing a Mets cap\"\/><figcaption>Billionaire Point72 founder Steve Cohen also owns the New York Mets.<\/p>\n<p>Frank Franklin II\/AP<\/p>\n<\/figcaption><\/figure>\n<ul>\n<li>Senior leader Issam Bazzi is leaving Point72&#039;s quant unit, Cubist, after three years.<\/li>\n<li>Bazzi&#039;s team had been in the red, with trading losses in the tens of millions.<\/li>\n<li>The change comes several months after a shake-up at the top of Cubist.<\/li>\n<\/ul>\n<p>A senior leader at the quant division of $46 billion hedge fund Point72 Asset Management is leaving the firm, according to people familiar with the matter.<\/p>\n<p>Issam Bazzi, a senior quant who helped lead the buildout of a centralized trading unit at Cubist Systematic Strategies, is out after nearly three years at the hedge fund.<\/p>\n<p>Bazzi&#039;s team had struggled performance-wise for months and had been down as much as $70 million this year, Business Insider has learned.<\/p>\n<p>A Point72 representative declined to comment. Bazzi did not immediately respond to requests for comment.<\/p>\n<p>Bazzi&#039;s exit comes several months after a surprising leadership shake-up at the top of Cubist, with president Denis Dancanet leaving and ex-WorldQuant exec Geoffrey Lauprete taking his place.<br \/>Building a centralized trading unit, akin to a traditional collaborative quant fund, to trade alongside the dozens of independent pods was a key initiative for Dancanet when he joined in 2020. The firm spent tens of millions luring top talent, but none more significant than Bazzi, a Citadel Securities veteran who also overlapped with Dancanet at quant hedge fund PDT.<br \/>Amid the changes last September, Bazzi&#039;s fate at the firm was fodder for market chatter, but in October, he and billionaire founder Steve Cohen negotiated a deal for him to stay on, Business Insider previously reported.<br \/>Cubist, which had about 60 investing teams in addition to the central team as of last fall, isn&#039;t a stand-alone fund investors can allocate to with separately reported returns and its performance flows into Point72&#039;s overall returns. Point72 had returned 4.5% through February, and like many funds it started March with losses amid turmoil from the Iran War. <br \/>Roughly two-thirds of the money managed by Point72 is devoted to stock picking, with the remainder divided between Cubist and its macro investors. The unit&#039;s 2026 performance isn&#039;t clear.<\/p>\n<p>Read the original article on Business Insider<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Billionaire Point72 founder Steve Cohen also owns the New York Mets. Frank Franklin II\/AP Senior leader Issam Bazzi is leaving Point72&#039;s quant unit, Cubist, after three years. Bazzi&#039;s team had been in the red, with trading losses in the tens of millions. The change comes several months after a shake-up at the top of Cubist. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":47903,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[],"class_list":{"0":"post-47902","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-usa"},"_links":{"self":[{"href":"https:\/\/agooka.com\/news\/wp-json\/wp\/v2\/posts\/47902","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/agooka.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/agooka.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/agooka.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/agooka.com\/news\/wp-json\/wp\/v2\/comments?post=47902"}],"version-history":[{"count":0,"href":"https:\/\/agooka.com\/news\/wp-json\/wp\/v2\/posts\/47902\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/agooka.com\/news\/wp-json\/wp\/v2\/media\/47903"}],"wp:attachment":[{"href":"https:\/\/agooka.com\/news\/wp-json\/wp\/v2\/media?parent=47902"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/agooka.com\/news\/wp-json\/wp\/v2\/categories?post=47902"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/agooka.com\/news\/wp-json\/wp\/v2\/tags?post=47902"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}