Point72's Haynes Resigns Following Cohen-Ordered Culture Review
- Firm assessment follows filing of suit claiming discrimination
- Cohen says in a memo he’s seeking ‘different type of leader’
Photographer: Emile Wamsteker/Bloomberg
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Doug Haynes, president at Steve Cohen’s hedge fund, has stepped down after four years, following a lawsuit filed last month that accused the company of discriminating against women and an ongoing independent assessment of the firm’s culture ordered up by Cohen.
The resignation from Point72 Asset Management comes as Cohen stages a comeback as a hedge-fund manager after a two-year ban, raising $3 billion from investors, according to a memo Cohen sent to employees Friday seen by Bloomberg. Cohen said that the transition from a family office “is a natural point to make way for a new, different type of leader.”