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Doug Haynes Recap

DoughThe point 72 Asset Management President Doug Haynes never thought of working in the Hedge Fund business. In a recent interview, he says he was a mathematician who worked for the Central Intelligence Agency. Haynes, who has an M.A. in Mathematics from the University, retired from the CIA as a programmer and then spent over 20 years in software development before eventually becoming one of the most influential figures on Wall Street.

His transition into Goldman Sachs’s Technology division eventually led to the opportunity to work for Steve Cohen at SAC Capital Advisors. Additionally, it ultimately led to him running his firm — Point72 Asset Management.

He says he is still amazed by the events that took place over the last few years. As Point 72 Asset Management has grown from a start-up hedge fund that employed just three traders, including himself. The fund has now grown into a multi-billion dollar investment house with a strong team of developers and programmers.

Haynes says he never imagined that one day, he would have the opportunity to build a firm of this magnitude, significantly since he was not cut out for hedge fund work. He says his transition into a Hedge Fund Manager was only possible because of Steve Cohen. He is thankful to Cohen for giving him the chance to become his boss.

Doug Haynes says he has no plans to return to Wall Street and is contented with running his firm. He admits he still keeps tabs on the world of Wall Street and is interested in many areas, including equities, credit, commodities, and currencies. After an agreement with Cohen, he joined point 72 as a managing director of human capital.

Haynes says his past at the CIA will not affect his abilities to run Point 72 Asset Management. He says he had always found it hard to believe someone like him could get into such a position. Haynes admits to being good at programming. However, he did not expect to become a hedge fund manager.

Doug Haynes was to join the firm as an advisor and eventually became its first non-C.E.O. He says he is one of the very few people who did not join Point 72 to make money but because he believed in the business model of Steve Cohen.