Point72 hired a discretionary macro trading head from a quant hedge fund
AQR Capital Management is one of the biggest players in the quant hedge fund space, but it's not purely a quant fund. It's home to several senior discretionary traders, one of whom has just defected to Point72 after 11 years at the fund.
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Vinod Addidam joined Point72 this month as its global head of macro trading strategy. He reports to Mo Grimeh, the fund's global head of macro who joined from Millennium six years ago. Addidam will be working out of the fund's Stamford, Connecticut office, having already bought a house in the area last summer.
At AQR, Addidam was global head of equities and commodities trading, according to a biography from a Rosenblatt conference in 2022. The biography stated that he was "also responsible for the firm’s Capital Markets and AQR Arbitrage trading efforts." Before joining AQR, Addidam spent seven years at Deutsche Bank. He joined as an MBA associate and rose to director, serving as head of emerging markets delta one and arbitrage trading.
AQR seems to take a 'quantamental' approach to its macro trading business. An opening in its discretionary portfolio management division says that the team "works with the firm’s systematic researchers to jointly manage macro portfolios and the firm’s flagship Global Macro Strategy." Point72's global macro team specifies that it makes discretionary investments first and foremost. It also has a systematic macro business which operates via the fund's quant arm Cubist Systematic Strategies.
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