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Point72 Still Under A Cloud As President Plans To Step Down

By Insider Scoop
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Courtesy of Benzinga.

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Hedge fund giant Point72 Asset Management said its president, Thomas Conheeney, will step down at the end of 2014 and be succeeded by Douglas Haynes, managing director for human capital at Point72.

Formerly known as SAC Capital Advisors, the firm pleaded guilty to insider trading charges in April and its chief executive Steven A. Cohen continues to face a civil action that could bar him from managing money.

Point72 had assets of $15.6 billion as of its latest regulatory filing. That includes a reported $10 billion of Cohen's personal fortune

Eight former employees of of the firm were convicted or pleaded guilty to insider trading. Conheeney has not been charged.

Posted-In: News Legal Management

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