Hedge fund Point72 has announced the hiring of Lionel Sukhram, now a former employee of the Robinhood platform.
Sukhram has been hired as a senior digital assets professional as part of the firm’s efforts to expand its crypto team.
Sukhram brings with him extensive experience in both banking and crypto, having worked at both Morgan Stanley and Goldman Sachs before joining Robinhood as a senior cryptocurrency operations specialist.
Summary
Rise in hiring of employees taken from exchanges such as Robinhood
Before joining Point72, Sukhram spent nearly a year at Robinhood, where he was responsible for managing the company’s cryptocurrency operations.
During his time at Robinhood, Sukhram gained valuable experience in the day-to-day management of digital assets and became an expert in the field.
With the rise of digital assets and the increasing adoption of cryptocurrencies, hedge funds like Point72 are looking to capitalize on the opportunities presented by these new markets.
The addition of Sukhram to the Point72 team is a clear signal that the firm is serious about expanding its presence in the cryptocurrency space.
Before moving to Robinhood, Sukhram worked for several years in the banking industry. He worked at Goldman Sachs for six years, starting as head of information solutions in July 2014 and then becoming senior operations associate in March 2016.
He then moved to Morgan Stanley, where he worked as a director within the business management unit between July 2020 and November 2021.
Sukhram’s extensive experience in both banking and cryptocurrency makes him the ideal candidate for Point72’s digital assets team.
His background in banking gives him a deep understanding of financial markets, while his time at Robinhood gave him hands-on experience in digital asset management.
Point72 is one of the world’s best-known hedge funds, with a reputation for making shrewd investments in a variety of markets. The move comes at a time when more and more institutional investors are entering the cryptocurrency space.
In recent years, large investment firms and hedge funds have become increasingly interested in cryptocurrencies, which many see as a valuable asset class to add to their portfolios.
As more investors seek to diversify their portfolios with digital assets, hedge funds such as Point72 are positioning themselves to take advantage of this trend.
In addition to expanding the team dedicated to digital assets, Point72 has also invested in a number of other emerging markets.
The company has been particularly active in the healthcare and technology sectors, where it has made a number of successful investments in recent years.
Point72’s expansion into the crypto world
This is not the first time in recent history that Point72 has moved to expand its presence in the cryptocurrency market.
In fact, the hiring of Lionel Sukhram is just the latest in a series of moves the asset manager has made to build its digital asset capabilities.
In September 2022, Point72 hired Terence Schofield as head of digital asset technology.
Schofield previously worked at Pantera Capital, one of the oldest and most renowned cryptocurrency investment firms.
At Point72, he was hired as head of the firm’s efforts in developing cutting-edge digital asset management technology. Schofield’s experience in the cryptocurrency industry is second to none.
Prior to joining Pantera Capital, he worked at Blockstream, a leading provider of blockchain technology.
He has also been an advisor to several cryptocurrency startups, helping them develop their products and grow their businesses.
With the entry of Schofield and Sukhram, Point72 is well positioned to become a major player in the digital asset market.
The company’s investment in digital asset technology and its commitment to expand its cryptocurrency team are clear signs of its confidence in the long-term potential of cryptocurrencies and blockchain technology.
We can conclude by saying that Point72’s hiring of Lionel Sukhram represents a significant development in the world of cryptocurrency investing.
Sukhram’s entry, along with the hiring of Terence Schofield in September, demonstrates the firm’s commitment to expanding its digital asset capabilities and becoming a major player in the rapidly evolving cryptocurrency market.
Point72’s recent hires are a clear indication that the firm is serious about this trend and is positioning itself to take advantage of the opportunities presented by this exciting and dynamic new asset class.
