Point72 Adds JPMorgan Healthcare Manager

Jul 24 2014 | 7:40am ET

The family office formerly known as SAC Capital Advisors has hired a JPMorgan Asset Management portfolio manager.

Point72 Asset Management told its staff yesterday that Scott Braunstein will join the firm as a money manager. He’ll work at the firm’s stock-trading unit, EverPoint Asset Management, in New York, beginning in October.

Braunstein has been co-portfolio manager of JPMorgan’s Global Healthcare Fund since its debt five years ago. A former doctor and the brother of bank vice chairman Doug Braunstein, Scott focuses on biotechnology and pharmaceutical stocks—the sort of investments that got SAC into trouble in recent years, fueling the insider-trading scandal that saw the firm plead guilty to fraud charges and cease managing outside capital.

All told, Braunstein spent a dozen years at JPMorgan Asset Management, which he joined from Deutsche Bank.

At Point72, Braunstein will work alongside Anna Yaeger, the firm said.


In Depth

Exotic Assets: Investing In Rare Violins

Jan 17 2017 | 4:43pm ET

By definition, alternative investments include exotic assets far beyond your typical...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

The Trump Administration: What It Could Mean for Carried Interest

Jan 19 2017 | 5:25pm ET

The arrival of the Trump administration brings the potential for a repeal of the...