STAMFORD, Conn.--(BUSINESS WIRE)--
Point72 Asset Management, L.P. (“Point72”) and Steve Cohen, its Chief Executive Officer, today announced that Thomas Conheeney will step down as Point72’s President. Mr. Cohen and the Firm named Douglas Haynes as Mr. Conheeney’s successor.
“I thank Tom for all that he has done during his 15 years at Point72, first as COO then as President,” Mr. Cohen said. “Under Tom’s leadership, Point72’s predecessor, known as SAC Capital, grew into one of the world’s most successful hedge funds. Among his many accomplishments, he led us through the 2008 financial crisis, the 2010 aftershocks and the crisis following the revelation of insider trading by former employees at the firm.”
Mr. Haynes, 48, will assume his new duties as Firm President, effective today. Mr. Conheeney will remain at the Firm through the end of the year to support an orderly transition.
“I have spent the last several years working with Doug on the Robin Hood Foundation Board and was so impressed by his work there that I asked him to join Point72 earlier this year and serve on our senior management team as Managing Director for Human Capital. Throughout his professional career at McKinsey & Company, his work with multiple Fortune 100 CEOs, and at Robin Hood, Doug has demonstrated outstanding leadership, a proven track record of building outstanding teams and executing winning strategies,” Mr. Cohen said, “and we will now apply his experience and skills to a broader canvas.”
“Nothing I will do in my professional life will give me greater satisfaction than knowing that 850 good people came to work today and the firm thrives because of our hard work together,” Mr. Conheeney said. “I’m proud of the whole team at Point72 and leave knowing the Firm is in a strong position and will be in good hands.”
“I am honored to be asked by Steve to lead Point72,” Mr. Haynes said. “I am inspired by the talent and dedication of our investment professionals, management and staff. I look forward to working with Steve to lead the Firm as we pursue our goal of being the industry’s premier asset management firm that adheres to the highest ethical standards.”
Mr. Haynes is a former Director of McKinsey & Company. Over his 20-plus year career, he helped build McKinsey’s global Tech/Media/Telecom practice, played senior leadership roles for its Operations practice, and headed one of its largest geographic offices. Mr. Haynes joined McKinsey in 1992 and had been part of its Atlanta and London offices, prior to moving to the Northeast in 1998. His client work included serving some of the world’s largest and most valuable enterprises.
Before joining McKinsey, Mr. Haynes worked for GE’s advanced materials business (now part of Sabic International) in engineering, design, sales and marketing.
Mr. Haynes serves on SingTel’s Technology Advisory Board, the Center for Global Enterprise Board and the Board of the Robin Hood Foundation, New York’s largest poverty-fighting not-for-profit. He also helped launch the Robin Hood Foundation’s Veterans Initiative that has raised $13 million to support veterans returning from Iraq and Afghanistan, and works with New York-based companies to connect returning veterans with job opportunities. In addition, Mr. Haynes also serves on the Corporate Advisory Board of the Darden Graduate School of Business and the Board of the Canterbury School.
Mr. Haynes was a Shermet scholar at the University of Virginia’s Darden Graduate Business School and earned a B.S., summa cum laude, in Mechanical Engineering from West Virginia University.
About Point72 Asset Management
Point72 Asset Management is a family office managing the assets of its founder, Steven A. Cohen, and certain eligible employees. Point72 focuses primarily on discretionary long/short investing. The Firm's long/short investment divisions are Point72 Asset Management and EverPoint Asset Management, and Cubist Systematic Strategies is its quantitative division. Point72 is headquartered in Stamford, Connecticut, and maintains offices in Tokyo, Hong Kong, Singapore, Boston and New York.
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