The article discusses the move of Kan Huang, an executive at the quantitative investment firm Two Sigma, and his team to Cubist, a subsidiary of Point72 Asset Management. Huang’s team, known as the Techniques Unit, specializes in developing advanced trading strategies and techniques. The move is expected to take place in 2024 when Huang’s non-compete agreement with Two Sigma expires. Cubist, known for its quantitative trading strategies, aims to bolster its capabilities by acquiring Huang’s team. The article highlights the competitive nature of the quantitative finance industry and the ongoing talent acquisition efforts among major firms. It also underscores the value placed on teams with expertise in developing cutting-edge trading techniques and algorithms. While the financial terms of the deal were not disclosed, the move is seen as a strategic move for Cubist to enhance its quantitative trading capabilities.
Source: https://www.businessinsider.com/two-sigma-exec-kan-huang-techniques-unit-joins-cubist-2024-10