Steve Cohen, billionaire and founder of hedge fund Point72 Asset Management, has stepped away from the trading floor and will focus on driving the firm’s growth, Bloomberg News reported Tuesday.
Cohen, who remains as the hedge fund’s co-chief investment officer along with Harry Schwefel, will invest his time in mentoring and developing talent, the report added, citing an emailed statement.
Point72 did not immediately respond to a Reuters request for comment.
Point72 Asset Management has over 35.2 billion in assets under management as per their website.