(Reuters) -Steve Cohen, billionaire founder of Point72 Asset Management, has stopped trading at the hedge fund, according to a statement, although he is still making investment decisions as a co-chief investment officer alongside Harry Schwefel.
“He is taking a break from trading his own book and he feels he can have a greater impact by focusing on running the firm, driving strategic initiatives, and mentoring and coaching to the next generation of talent,” spokesperson Tiffany Galvin-Cohen said in a statement.
Point72, which manages $35.2 billion in assets, has 185 investing teams, according to the firm’s website.
Bloomberg first reported on the changes at Point72.
(Reporting by Carolina Mandl in New York and Pritam Biswas in Bengaluru; Editing by Alan Barona and Jonathan Oatis)
Brought to you by www.srnnews.com
