Point72 Manager Exits After Reckless-Driving Arrest

Paul Orwicz, a longtime money manager at billionaire Steven A. Cohen’s Point72 Asset Management LP, departed the investment firm a week after he was arrested for reckless driving in his McLaren supercar in Connecticut.

Orwicz, 46, said in a telephone interview that he resigned last week after his two-year contract with the firm, which manages Cohen’s fortune, lapsed and he’s now pursuing other opportunities within the hedge-fund industry. He said the driving incident was an “unfortunate coincidence” with his exit from Point72, and that he hoped to resolve the matter with the authorities.